Ripple to Open Offices in India?

Paigambar Mohan Raj
Source: State Department

Ripple, one of the most popular blockchain companies, is preparing to open a new office in Bengaluru, India.

The development was revealed to the public when Ripple announced a new job vacancy for the role of Senior Project Manager, Central Banks in Bengaluru.

The job vacancy suggests that Ripple may be opening a new office in India. Bengaluru is often called the “Silicon Valley of India”, hence it is of no surprise that the company chose this exact location for its offices.

The applicant will be in charge of directing the company’s relationships with various central banks, according to the job description. The chosen candidate will oversee the implementation of many Central Bank Digital Currency (CBDC) projects.

Furthermore, even though the applicant lives in India, he or she will collaborate closely with other Ripple departments located outside of the nation to build solutions that will benefit the global financial system.

While the applicant may be situated in Bengaluru, his or her work may be based in India, Singapore, the United States, or the United Kingdom, according to the job advertisement.

Ripple’s India Plans

This is not Ripple’s first attempt to expand into India. In September of 2017, the company announced its Mumbai offices with Navin Gupta being appointed as country manager.

CEO Brad Garlinghouse stated at the time that,

“India is transforming itself into a digital economy and is an innovative leader in payments. Our new office in Mumbai, led by Navin, will allow us to respond to the rapidly-growing demand for frictionless payments by our current customers, Axis Bank and YES Bank, as well as other bank and non-banks across the country,”

In 2018, Asheesh Birla, Ripple’s Senior Vice President of Product, talked on a panel at the Wharton School of Business about how Ripple went about acquiring a majority market share and establishing itself in the global economy.

Birla said that the company would strive to persuade Indian financial institutions to join RippleNet.