Summer 2025
Software Engineer Intern
Stablecoin
Posted on 2/7/2025
Ripple
1,001-5,000 employees
Enterprise blockchain payments and CBDC solutions
Compensation Overview
$36 - $38/hr
No H1B Sponsorship
New York, NY, USA
In-office collaboration is important, and employees have the flexibility to decide which 10+ days a month they come in.
In-office collaboration is important, and employees have the flexibility to decide which 10+ days a month they come in.
In-office collaboration is important, and employees have the flexibility to decide which 10+ days a month they come in.
 Software Engineering (1) |
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- Currently pursuing a Bachelors degree in Computer Science or something similar with an anticipated graduation between December 2025 and December 2026
- Strong competency in at least one programming language: JVM based languages such as Java/Scala/Kotlin preferred.
- Experience building, testing and deploying backend services on public cloud platforms.
- Intellectual curiosity - you love to dig into how things work and understand how to improve and scale them
- You thrive on autonomy, responsibility and owning your work, end to end
- A positive attitude and a passion for sharing knowledge within your team and organization
- Eagerness to work openly and collaboratively with a diverse team
- Build enterprise, distributed applications and services that manage the lifecycle of RLUSD, from issuance to redemption or bridging
- Prototype new solutions for complex software problems and implement them for cloud deployments
- Work with teams across the organization, including product, legal, and business development to think beyond the technical implications of your design decisions
- Continuously raise our standard of engineering excellence by implementing and driving best practices for coding, testing, and deployment
What Ripple does: Ripple provides enterprise blockchain-enabled financial services that speed up payments and improve cash management. How it works: its platform, built on blockchain and cryptocurrency, enables real-time settlement, liquidity management, working-capital access, and instant payments for financial institutions, enterprises, and governments, including the ability to source crypto assets and manage treasury via a single platform. How it differs: it focuses on scalable, secure CBDC implementations and government partnerships (e.g., Palau) to deliver central-bank-grade digital currencies, alongside proven faster remittances and lower costs from clients like Nium and Tranglo. Its goal: help clients move money faster, more transparently, and at lower cost, while expanding access to digital currencies and CBDCs.
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$792.2M
Headquarters
San Francisco, California
Founded
2012
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Simplify's Take
What believers are saying
- Nuvion integration enables faster cross-border settlement and seamless fiat-to-digital asset movement for global enterprises.
- Open USD consortium with Visa and BlackRock locks XRP Ledger as a settlement rail for the largest stablecoin alliance.
- XRPL Lending Protocol testing could unlock $1.9B in RWA inflows by making tokenized assets work as working capital.
What critics are saying
- XRPL Lending Protocol stalls if 34 validators fail 80% consensus over two weeks, blocking institutional credit rails within 3–6 months.
- RLUSD adoption fails if exchange support and issuer trust remain absent amid crowded USDC/USDT competition within 6–12 months.
- SEC enforces against ODL or RLUSD post-Clarity Act delay, freezing cross-border payments and Palau CBDC partnerships within 3–9 months.
What makes Ripple unique
- XRPL Lending Protocol uses off-chain underwriting for fixed-term, uncollateralized institutional loans distinct from DeFi.
- RLUSD stablecoin reaches $1.5B market cap, ranking third among US-regulated stablecoins after USDC and PYUSD.
- Premier x402 Foundation membership establishes XRP and RLUSD as open payment standards for AI agent transactions.
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Benefits
401(k) Plan
Healthcare Coverage
Health and Wellness
Family Support
Flexible Vacation
Employee Giving
Learning and Development
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -4%2 year growth
↓ -4%Promptwatch raises €6M to help brands appear in ChatGPT, and the week funding split into three tiers. A seed round for AI chatbot visibility, a $1B non-equity deal for a longevity drink, and stablecoin payments close a $38M Series A. Published July 15, 2026 The capital markets are still open, but the check sizes this week tell three different stories. On one end: a €6 million seed round for a startup that wants your brand to show up when someone asks ChatGPT for a recommendation. On the other: a $1 billion deal that doesn't involve equity at all, just a beverage company co-founded by a retired footballer. In between, there's a $38 million Series A for stablecoin payment rails, which is the sort of thing that makes sense only if you believe cross-border B2B payments are still broken enough to justify another layer. Promptwatch wants brands to rank in AI chatbots. Promptwatch raised €6 million in a seed round led by Seed + Speed Ventures, with Blum Ventures and Arches Capital also backing the Amsterdam startup. The pitch: help brands improve their visibility inside conversational AI tools like ChatGPT, Claude, and whatever Google is calling Gemini this week. The company has already opened an office in New York and says it will use the funding to expand there. The idea isn't particularly new - SEO consultants have been saying "optimize for LLMs" since late 2023 - but turning it into a funded SaaS product with enterprise contracts is the next logical step. If people are using chatbots instead of search engines to find restaurants, hotels, or software tools, then brands need a way to ensure they show up in those answers. Promptwatch is betting that most companies don't know how to do that yet and will pay someone to figure it out for them. Whether this becomes a durable category or just a feature that OpenAI and Anthropic eventually build into their enterprise tiers is the open question. For now, there's clearly investor appetite for "AI discovery" infrastructure. Velocity closes $38M to put stablecoins into business payments. Velocity announced a $38 million Series A led by Dragonfly and Firstmark, with participation from Coinbase, Capital One Ventures, QED Investors, Activant Capital, Ripple, and Wintermute. The London-based payments company is building tools that let businesses integrate stablecoins into customer checkout flows and cross-border invoicing. This is the kind of round that makes sense if you've spent any time watching a wire transfer sit in limbo for three days or trying to pay a contractor in another country without losing 4% to FX spreads and intermediary fees. Stablecoins are supposed to fix that - instant settlement, transparent fees, no correspondent banking network. The hard part has always been making it easy enough for a mid-market business to actually use without hiring a crypto-native payments engineer. Velocity's investor list is a mix of traditional fintech funds (QED, Capital One) and crypto infrastructure players (Dragonfly, Coinbase, Ripple). That split suggests the company is threading the line between "this is just better payments infrastructure" and "this only works if you believe in on-chain rails." The $38M will likely go toward compliance, integration partnerships, and convincing CFOs that stablecoin invoicing is less risky than it sounds. IM8 gets $1 billion in non-equity financing from General Catalyst. Here's where the week gets weird. IM8 secured $1 billion from General Catalyst's Customer Value Fund, which is not a traditional venture fund - it doesn't take equity. Instead, it provides financing to companies in exchange for revenue share or other non-dilutive terms. IM8 is a longevity vitamin-drink startup co-founded by David Beckham, which makes this one of the stranger capital allocation decisions of the year. The structure suggests IM8 either didn't want to give up board seats or couldn't raise a traditional round at a valuation it liked. General Catalyst's fund is designed for companies with strong unit economics that need capital for manufacturing, inventory, or distribution - things that don't require giving up control. Whether a celebrity-backed beverage startup fits that profile is debatable, but $1 billion is $1 billion. This is also a signal that large institutional funds are experimenting with non-equity structures, especially for companies in categories (CPG, hardware, physical infrastructure) where venture's traditional "grow at all costs, exit in 7 years" model doesn't fit cleanly. The rest of the funding roundup. A few other deals worth noting: * Monorale AI raised £4 million in a Series A after hitting 40,000 users in eight months. The British AI platform didn't disclose what it does, which is becoming a genre. * Flex raised $70 million led by Halo Fund to build AI-powered banking tools for mid-sized business owners, per Reuters. * TYLSemi closed $43 million to help companies design their own AI chips, founded by former AlphaWave executives. * Cyera raised $600 million at a $12 billion valuation in June for AI-enabled enterprise security, especially around AI agents. The pattern: seed rounds are getting smaller and more focused, Series A checks are going to infrastructure plays (payments, chips, security), and the billion-dollar deals are either non-equity or happening in China. If you're raising right now, the tier you're in matters more than the category.
Ripple joins x402 Foundation to push XRP into AI payment race. Ripple has officially become a Premier Member of the x402 Foundation, aiming to enhance the role of XRP and RLUSD in developing an open payment standard for AI interactions. This collaboration reflects the growing need for efficient payment solutions as AI agents increasingly manage transaction processes. Discover more Brokerages & Day Trading Merchant Services & Payment Systems Ripple's commitment to AI payment solutions. By joining the x402 Foundation, Ripple reinforces its dedication to creating a robust infrastructure for AI-driven payments. The XRP Ledger is crucial for developers, offering tools that facilitate transactions through the x402 protocol. This enables AI applications to utilize XRP and RLUSD for seamless payment settlements, ensuring that automated systems can transact as swiftly as they handle data exchanges. Growing ecosystem and future implications. Ripple's involvement comes alongside notable members such as Coinbase and Google, signaling a united effort to shape payment standards for AI applications. The recent launch of the XRPL AI Starter Kit and the XRPL AI Hub further supports this initiative, fostering an environment for developers to innovate with AI technology on the XRP Ledger. The increasing number of agentic transactions on the network highlights a shift towards integrating AI in financial workflows. With the Linux Foundation overseeing the x402 protocol, the collaborative governance model allows for broader contributions, enhancing the development of this new payment framework. Digital Currencies Overall, Ripple's partnership with the x402 Foundation positions XRP and RLUSD at the forefront of a transformative movement in payment systems for AI applications, potentially redefining how automated transactions are conducted in the future. Discover more Stocks & Bonds
Ripple RLUSD beta tests put XRP Ledger stablecoin strategy back in focus. 2026.07.06 19:10 (GMT-7) Ripple is preparing beta tests for RLUSD, its dollar-backed stablecoin planned for both the XRP Ledger and Ethereum, bringing its enterprise payments strategy back into the stablecoin spotlight. For more details, visit the official Ripple platform. Tl;dr. Ripple is preparing RLUSD beta testing on XRP Ledger and Ethereum. The stablecoin is designed to complement Ripple's existing settlement products. The launch could give XRPL a more direct role in regulated dollar liquidity. Ripple has spent years arguing that XRP can serve institutional settlement. RLUSD adds a different piece to that puzzle: a dollar stablecoin that can move through the same enterprise-facing rails while also existing on Ethereum. Why Ripple wants A stablecoin. Stablecoins have become the clearest product-market fit in crypto. They are used for payments, trading collateral, remittances, DeFi liquidity, and dollar access. For Ripple, launching RLUSD gives its customers a familiar unit of account while keeping them inside Ripple's broader network. The key point is that RLUSD is not necessarily a replacement for XRP. Ripple has positioned the stablecoin as complementary. XRP can still be used as a bridge asset, while RLUSD gives institutions a dollar-denominated instrument for settlement and liquidity management. XRPL gets A new test. For the XRP Ledger, RLUSD could be an important utility test. A credible stablecoin can support trading pairs, payments, and DeFi-style activity. But adoption will depend on exchange support, issuer trust, regulatory comfort, and whether institutions actually want Ripple-issued dollar liquidity. The beta stage is therefore worth watching, not overhyping. Ripple is entering a crowded stablecoin market, but it has distribution, enterprise relationships, and a chain that needs more high-quality dollar activity. This report is based on information from Ripple. at Ripple Ethereum vs US Dollar Ripple vs US Dollar
Ripple unveils XRPL Lending Protocol to expand institutional onchain credit. vivian 4 hours ago (Last updated: 4 hours ago) 4 minutes read * Ripple has proposed a new XRPL Lending Protocol that would let institutions issue and manage loans backed by tokenized assets. * The feature is awaiting validator approval before it can launch on the XRP Ledger. Ripple has introduced a new proposal that could expand lending on the XRP Ledger by giving institutions a standardized way to issue and manage loans backed by tokenized assets. The proposed XRPL Lending Protocol is designed to support RWA financing while leaving credit decisions, compliance, and borrower assessments in the hands of financial institutions. If approved by validators, the protocol would strengthen XRPL's growing role in institutional tokenization by adding a dedicated credit layer for on-chain finance. Ripple targets institutional lending on XRPL. The proposed XRPL Lending Protocol aims to solve a key challenge in tokenized finance. While assets such as tokenized U.S. Treasuries, money market funds, commodities, stablecoins, and private credit can already exist onchain, many institutions still lack efficient ways to borrow against them. Ripple's proposal separates loan execution from credit evaluation. Financial institutions would continue to perform due diligence, verify borrowers, assess risk, handle legal agreements, and meet regulatory requirements offchain. Once a loan is approved, XRPL will automate the agreed loan terms. The blockchain would manage: * Loan origination * Interest calculations * Repayment schedules * Loan maturity * Default processing This approach allows institutions to maintain full control over underwriting while using XRPL to streamline loan administration. Validator vote will decide the next step. The proposal depends on approval from XRP Ledger validators before it can become part of the main network. The system is built around two proposed standards. XLS-65 introduces Single Asset Vaults that pool liquidity around one tokenized asset. XLS-66 defines the lending framework that allows loans to be issued using funds from those vaults. Unlike many decentralized lending platforms, the first version does not rely on automated collateral management or liquidation mechanisms. Instead, it focuses on: * Fixed-term loans * Institution-led underwriting * Permissioned participation where required * Offchain risk management * First-loss capital structures that protect senior liquidity providers This proposes better suited for traditional financial institutions looking to enter tokenized credit markets. Ripple builds on XRPL's growing RWA presence. The lending proposal comes as XRPL continues to expand its position in the real-world asset sector. Recently, XRP Ledger recorded approximately $1.9 billion in 90-day RWA inflows, highlighting growing institutional interest in the network for tokenized financial products. Ripple has also continued improving the ledger's infrastructure. A recent upgrade addressed issues involving vaults, lending logic, and related features, helping prepare the network for more advanced institutional applications. These improvements create the foundation needed for larger financial institutions to adopt tokenized lending solutions. New financing options for tokenized assets. Ripple believes the protocol could benefit several types of institutional users. Payment providers could use short-term financing to bridge settlement delays without selling their tokenized holdings. Market makers could access liquidity to finance trading inventories, while corporate treasury teams could earn returns by placing idle assets into professionally managed lending facilities. The proposal also supports Ripple's broader strategy of connecting tokenized assets with traditional financial infrastructure. Earlier this year, Ripple joined Ondo Finance, Mastercard, and Kinexys by J.P. Morgan in a pilot that linked tokenized U.S. Treasury redemptions on XRPL with bank settlement systems. The lending protocol would extend those capabilities by giving institutions a standardized way to access financing using tokenized assets. Developers can already test the protocol on XRPL's devnet while the validator voting process continues. If the proposed amendments receive approval, the XRPL Lending Protocol could become another major building block in Ripple's effort to support institutional finance on blockchain technology. Disclaimer: The information provided in this article is for general informational purposes only. While every effort has been made to ensure accuracy, no guarantees are made regarding the completeness or reliability of the information. Readers should verify facts independently and make their own decisions based on their individual circumstances. Vivian Njoroge is a seasoned crypto and blockchain news writer with a passion for decoding the complexities of the digital financial world. Armed with a keen eye for emerging trends and a knack for simplifying intricate concepts, Vivian brings a unique blend of expertise and enthusiasm to her writing. Her articles, characterized by clarity and depth, aim to keep readers abreast of the ever-evolving landscape of cryptocurrencies and blockchain technology.
XRP Ledger's 'missing layer' draws closer as developers test lending, credit features: Ripple. June 29, 2026 - By Decrypt - Original - Updated Ripple is testing a new lending protocol on the XRP Ledger, aiming to enhance on-chain finance capabilities for institutions. Confidence: 70% Horizon: medium-term Key numbers. * 1.5 billion (market cap of rlusd) * 1.05 (current price of XRP) * November 2024 (lowest price level since) Market drivers (micro). * Introduction of lending protocol could increase liquidity. * Off-chain underwriting allows institutions to retain control. * Potential for broader adoption of Ripple's stablecoin. Context (macro). * Continued volatility in cryptocurrency markets. * Growing interest in integrating traditional finance with blockchain. Who wins / who loses. * Winners: Institutions looking for new lending opportunities. * Losers: Traditional lending platforms facing competition from on-chain solutions. Scenarios. Base The XRP Ledger's lending protocol is likely to gain approval and enhance institutional participation in on-chain finance. Alt If the protocol faces significant regulatory hurdles, its implementation may be delayed or altered. What to watch next. * Approval status of the lending protocol by network validators. * Market reaction to the introduction of new lending features. * Performance of XRP and rlusd in the coming weeks. Full analysis. XRP Ledger's 'missing layer' draws closer as developers test lending, credit features. Ripple has announced that developers are beginning to test a new lending protocol on the XRP Ledger (XRPL), which aims to introduce significant functionality for institutions looking to borrow and lend digital assets directly on-chain. This development is seen as a crucial step towards enhancing on-chain finance capabilities, addressing what Ripple describes as the 'missing layer' in the current financial infrastructure. Key features of the lending protocol. The new lending protocol is based on two technical specifications, xls-65 and xls-66, which are designed to create a native credit infrastructure on the XRPL. If approved by network validators, this dual upgrade will allow network participants to put digital assets that currently sit idle to work, thereby increasing liquidity in the market. Off-Chain underwriting. One of the notable aspects of this protocol is that the underwriting process will remain off-chain. This means that the methods lenders use to assess a borrower's creditworthiness will not be reflected on the XRPL, allowing institutions to retain control over their lending decisions. This design aims to provide flexibility and support a wider range of credit structures over time, rather than hard-coding a single lending model into the application. Compartmentalized risk management. The lending protocol also incorporates a multi-tiered approach to risk management, where losses from defaults are compartmentalized. Capital from pool managers and underwriters is put at risk first, mirroring traditional finance structures. This design is intended to provide a more robust framework for managing lending risks, which is essential for attracting institutional participation. Market context and XRP's Performance. Despite the positive developments, XRP's price has recently fallen to its lowest level since November 2024, trading around $1.05. This decline highlights the volatile nature of the cryptocurrency market, even as Ripple pushes forward with innovations that could enhance the utility of its blockchain. The introduction of the lending protocol is expected to bolster the use of Ripple's stablecoin, rlusd, which has seen significant growth since its launch, reaching a market cap of $1.5 billion. The potential for institutions to leverage digital assets for liquidity and revenue generation could reshape how financial firms operate on the XRPL. Conclusion. As Ripple continues to develop its lending protocol, the implications for on-chain finance could be substantial. By integrating features that align more closely with traditional finance, Ripple aims to attract a broader range of institutional participants, potentially transforming the landscape of digital asset lending.