Summer 2025
Software Engineer Intern
Custody
Posted on 5/13/2025
Ripple
1,001-5,000 employees
Enterprise blockchain payments and CBDC solutions
Compensation Overview
$42 - $45/hr
San Francisco, CA, USA
Hybrid
Employees have flexibility to decide which 10+ days a month they come in.
Bachelor's
 Software Engineering (1) |
|---|
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- Currently pursuing a Bachelors degree in Computer Science or a related field, or possess equivalent experience.
- Strong competency in at least one programming language: JVM based languages such as Java/Scala/Kotlin or Rust 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, secured, crypto custody solutions for world's largest financial institutions that will be the foundations of tomorrows financial infrastructure.
- Prototype new solutions for complex software problems and implement them for on premise and cloud deployments and use cases.
- 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.
- Rust preferred.
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
Debt Financing
Total Funding
$1.1B
Headquarters
San Francisco, California
Founded
2012
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Simplify's Take
What believers are saying
- Jeonbuk Bank is Ripple's third Korean financial partnership this year.
- Ripple and Clearpool launched institutional credit testing on XRPL with RLUSD.
- Ripple's 2026 social-impact accelerator funded fifty small businesses with $500,000.
What critics are saying
- XRPL lending still needs validator approval, delaying revenue beyond 2026.
- Ripple's $125 million SEC penalty remains, keeping regulatory scars visible.
- If stablecoin rivals win bank distribution, Ripple becomes a commodity middleware vendor.
What makes Ripple unique
- Ripple Payments gives Jeonbuk Bank 24/7 cross-border settlement in seconds to minutes.
- Ripple Prime, built from Hidden Road, clears over $3 trillion annually.
- RLUSD adds regulated stablecoin rails, while XRPL protocol upgrades deepen institutional control.
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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
↑ 0%1 year growth
↓ -4%2 year growth
↓ -5%Ripple lands Korean banking deal as Asia's crypto tax war intensifies. South Korea's Jeonbuk Bank turns to Ripple for cross-border payments as Asia's crypto hubs race to cut taxes and Pakistan opens its licensing framework. South Korea's Jeonbuk Bank has formally engaged Ripple to power its cross-border payments infrastructure, marking one of the most concrete adoptions of blockchain-based settlement technology by a licensed Korean deposit-taking institution in recent memory. The deal arrives at a moment when Asia's leading crypto jurisdictions are locked in an aggressive competition to attract digital-asset capital through tax incentives, and as Pakistan moves to establish a formal licensing regime for cryptocurrency businesses - a combination of developments that signals a regional financial landscape undergoing simultaneous institutional deepening and regulatory maturation. Jeonbuk Bank's decision to route international money transfers through Ripple's payments network reflects a broader and accelerating trend among mid-tier Asian banks seeking to displace legacy correspondent banking arrangements that are both costly and operationally slow. Cross-border transfers conducted through traditional Society for Worldwide Interbank Financial Telecommunication channels can take two to five business days and carry layered intermediary fees; Ripple's on-demand liquidity model, which uses digital assets as a bridge currency, compresses settlement to seconds at a fraction of the cost. For a regional South Korean lender serving customers with active remittance needs - particularly toward Southeast Asia - the efficiency argument is difficult to ignore. The strategic logic for Ripple is equally apparent. Asia-Pacific has long been the company's most productive hunting ground for institutional partnerships, with relationships spanning Japanese financial groups, Southeast Asian remittance corridors, and now an expanding footprint on the Korean peninsula. Securing Jeonbuk Bank adds another named institution to Ripple's growing roster of bank clients in the region and strengthens the company's argument, relevant in multiple ongoing regulatory conversations globally, that its payments technology serves demonstrable real-world utility within supervised financial entities. Beyond the Korea-Ripple headline, the broader regional picture described in this week's Asia Express is defined by competitive fiscal maneuvering among the continent's established crypto hubs. Multiple jurisdictions - the precise configuration of which reflects months of policy signaling - are now actively reducing or restructuring tax obligations on digital-asset gains and business income in order to retain and attract crypto firms, investment funds, and high-net-worth holders who have proven themselves mobile and rate-sensitive. This dynamic resembles the competitive corporate-tax environment that defined offshore financial center rivalry in earlier decades, now replicated for the digital-asset era. The risk for regulators is that a race to the bottom on tax ultimately undermines the revenue base needed to fund the supervisory frameworks that give these same hubs their credibility with institutional investors. Pakistan's decision to open a crypto licensing pathway represents a distinct but related development. For a country with one of the world's largest overseas worker populations and correspondingly significant inbound remittance volumes, a regulated crypto framework carries immediate practical relevance. Licensed crypto operators would theoretically provide a compliant, lower-cost alternative to informal value-transfer systems that currently capture a meaningful share of cross-border flows into the country. The move also positions Pakistan to attract crypto infrastructure investment at a time when regional peers are tightening entry conditions, potentially giving Islamabad a window of competitive differentiation if implementation proceeds credibly and at pace. Japan, meanwhile, is reportedly set to grant its first new cryptocurrency exchange license in four years - a development that, while incremental in isolation, carries symbolic weight. The Japanese regulatory apparatus, administered by the Financial Services Agency, has been among the most demanding in the world since tightening its registration requirements in the aftermath of high-profile exchange failures earlier this decade. A new license issuance suggests that the agency believes applicant-level compliance standards have now matured sufficiently to warrant market expansion, and may presage a modest acceleration of new entrants into one of the world's most lucrative retail crypto markets. Taken together, these developments compose a picture of Asian financial markets moving in the same direction but at deliberately different speeds and through different policy instruments. South Korea advances through institutional bank adoption; Pakistan through licensing architecture; Japan through measured regulatory reopening; and the established hubs through fiscal competition. The common thread is legitimization - each jurisdiction, by its chosen mechanism, is embedding digital assets more firmly within the formal economy rather than tolerating them at its periphery. What this means for the industry. For payments-focused blockchain networks like Ripple, the Jeonbuk Bank partnership is more than a commercial win - it is further evidence that the technology's strongest near-term value proposition lies not in speculative retail trading but in solving structural inefficiencies within existing banking infrastructure. For regulators across the region, the interplay between tax competition, licensing reform, and institutional adoption creates both an opportunity and a disciplinary challenge: the opportunity to lead global standard-setting in digital finance, and the challenge of ensuring that competitive pressures do not erode the supervisory quality that underpins investor confidence. Asia is not simply adopting crypto - it is actively deciding what kind of financial system it wants crypto to become part of, and the choices being made in Seoul, Islamabad, and Tokyo this season will shape that answer for years ahead. Klaus hartmann. Banking infrastructure correspondent. Tracks the Bundesbank, the ECB and German Mittelstand financial systems. § Comments Open discussion no account needed
Ripple tests Permission Delegation for RLUSD on XRPL. The proposed XRPL feature could streamline regulated token operations by separating minting, compliance, and security responsibilities without exposing an issuer's primary keys. Published 41 minutes ago · Updated 2 hours ago Key Highlights * Ripple's RLUSD team is testing Permission Delegation on the XRPL Devnet, with the feature currently subject to validator voting on the XRP Ledger. * The feature allows an issuer to assign specific functions to separate accounts while keeping the primary account keys in cold storage. * For RLUSD, permissions could be divided among teams, with compliance handling freeze and clawback, operations managing mint and burn, and KYC providers handling trust line authorization. The RLUSD team at Ripple is building and testing the feature on the XRPL Devnet known as "Permission Delegation," which is currently under validator voting on the XRP Ledger. In an X post on Friday, an XRP Ledger dUNL validator states that the feature allows an account holder to assign specific, limited functions to other accounts. The primary account's keys can remain in cold storage while authorized secondary accounts carry out only the designated tasks. How Permission Delegation works. Lauren Betra, the stablecoin product lead at Ripple, gave further context and stated that, on the XRP Ledger, a token issuer account currently controls core functions such as minting, freezing, clawback, and trust line authorization. For regulated issuers, these responsibilities are typically divided among different internal teams, including compliance, operations, and security. Permission Delegation is structured to support that division of labor. An issuer can grant individual permissions to separate accounts. In one described configuration for the RLUSD issuer account, the compliance team receives freeze and clawback authority, the operations team receives mint and burn authority, and a KYC provider receives trust line authorization authority. Each team operates with its own account keys while acting on the main RLUSD issuer account. The issuer account's primary key remains offline. Distinction from multisignature arrangements. Permission Delegation differs from multisignature (multisig) setups. Multisig requires multiple parties to approve a single transaction. Delegation authorizes a specific account to perform a defined action on behalf of the issuer. One approach divides approval authority; the other divides operational responsibilities. Certain account-level permissions cannot be delegated. This restriction prevents delegates from expanding their own access rights. The issuer retains the ability to grant or revoke permissions at any time. The feature is intended for use by institutions issuing regulated assets on the XRP Ledger. Stablecoin issuers, real-world asset tokenizers, and asset managers that bring regulated instruments on-chain often require separation between teams responsible for moving assets, enforcing compliance rules, and managing security. Permission Delegation provides a protocol-level mechanism to implement that separation. The same structure can apply to other regulated tokens beyond RLUSD. Parallel development and testing by the RLUSD team continue on the XRPL Devnet. Related infrastructure developments. On August 21, 2026, Ankr introduced RPC infrastructure for the XRP Ledger. The service supports enterprise and developer connections within the Ripple ecosystem, which includes more than 300 financial institutions engaged in cross-border payments across Asia, the Middle East, Latin America, and other regions. The combination of protocol-level features such as Permission Delegation and supporting infrastructure services forms part of the current technical environment available to institutions operating on the XRP Ledger. Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.
Ripple has partnered with Clearpool and Cicada to launch an institutional credit fund using its RLUSD stablecoin as collateral. The initiative marks a shift from RLUSD's primary use as a cross-border payment settlement tool. Clearpool operates an onchain credit marketplace connecting institutional borrowers with lenders through permissioned pools. Cicada manages or structures the fund alongside Ripple. The vehicle treats RLUSD as collateral for lending activity rather than solely as a medium of exchange. The development reflects stablecoin issuers seeking to diversify token usage beyond payment volume. Lending and credit markets offer another adoption channel, particularly for institutions requiring yield-bearing or collateralised instruments denominated in dollar-pegged tokens. Details on fund size, target investors, yield structure, custody arrangements, and borrower underwriting standards have not been disclosed. The launch positions RLUSD as a working capital and collateral instrument whilst competing against established stablecoins USDT and USDC.
Ripple News: XRPL eyes crypto lending market. August 21, 2026 7:38 am Key insights: * Ripple is collaborating with Cicada and Clearpool to launch a lending market on XRPL. * The firm said XRP Ledger is designed for institutional credits * This could further boost XRP's recovery above $1, as the token climbs 12% over the past 24 hours. XRP price extended its recovery as Ripple backed a new institutional lending initiative on the XRP Ledger. Ripple will work with Cicada Partners and Clearpool to develop credit markets using RLUSD. The initiative targets businesses seeking working capital through onchain credit. However, the underlying XRP Ledger lending features still require validator approval before full deployment. Ripple backs institutional lending on XRP Ledger. Cicada Partners announced the initiative with Ripple and Clearpool on Aug. 20. Clearpool will provide the lending infrastructure, while Cicada will handle credit origination and servicing. Ripple will participate as a liquidity provider alongside other institutional investors. The initiative will use Ripple USD, or RLUSD, as the underlying credit asset. The target borrowers include fintech companies, payment providers and crypto businesses. These firms could use RLUSD loans for working-capital requirements once the infrastructure becomes operational. The structure differs from conventional decentralized finance lending. Cicada will conduct offchain borrower underwriting while XRPL records lending activity and settlement onchain. XRPL Lending Protocol still requires approval. The project will rely on XLS-66, the proposed XRP Ledger Lending Protocol. The specification allows fixed-term, uncollateralized loans funded through pooled liquidity. XLS-66 remains classified as a draft amendment. XRP Ledger documentation also shows that the LendingProtocol amendment is not enabled by default in the latest stable release. The protocol depends on XLS-65, which introduces Single Asset Vaults. These vaults aggregate assets from depositors and make liquidity available to protocols such as lending markets. XLS-65 also remains a draft standard. That means Ripple, Cicada and Clearpool are preparing the market before the required amendments gain network consensus. The partnership therefore does not mean native XRPL lending is already fully operational. Validator approval remains an important technical milestone. Ripple says XRPL can support institutional credit. Ripple has positioned the XRP Ledger as infrastructure for institutional credit rather than purely retail decentralized finance. The proposed lending architecture places loan terms, repayments and vault activity directly into XRP Ledger functionality. Ripple argues that this reduces dependence on separate smart-contract applications. That design does not eliminate lending risk. XLS-66 still relies on offchain underwriting and risk management to evaluate borrower creditworthiness. The protocol instead moves execution and settlement onto the ledger. Credit managers would remain responsible for assessing borrowers and maintaining lending standards. XRPL also includes compliance-oriented infrastructure such as Credentials and Permissioned Domains. These tools allow protocols to restrict participation based on approved credentials. Private vaults can therefore limit deposits to approved participants. That structure makes the proposed lending system more suitable for regulated financial institutions. XRP climbs above $1 amid broader market recovery. Meanwhile, the partnership brings the highly anticipated native lending protocol on XRP Ledger closer to reality. According to the Ripple announcement, the protocol will benefit the XRPL ecosystem in several ways. It noted that this would boost adoption of its RLUSD, as every loan would be denominated in the stablecoin. However, the announcement added that increased activity on XRPL will also boost XRP. "XRP serves as the native settlement asset - every lending transaction on XRPL, from issuance to repayment to LP deposits, settles using XRP for fees and reserves, furthering its utility," it said. XRP is already seeing sizable gains, although it might not be related to this Ripple News. The broader market has been on an uptrend, and XRP is up more than 12% today. It has also gained almost 25% in the past seven days. The positive performance has led XRP to climb to around $1.25, its highest price level since June 2026. Despite the gains, XRP is still down 31% year-to-date. Oluwapelumi Adejumo is an experienced cryptocurrency journalist who has contributed to leading blockchain news platforms, including CryptoSlate and BeInCrypto.
Ripple, Cicada, Clearpool plan institutional credit platform on XRPL. The proposed lending system will use XRPL infrastructure and RLUSD to provide credit to fintech and payments businesses, with testing underway on Devnet. Published 5 hours ago · Updated 37 minutes ago Key Highlights * Cicada Partners, Clearpool and Ripple are developing an institutional lending platform on the XRP Ledger. * The proposed system will use XRPL's XLS-66 Lending Protocol and XLS-65 Single Asset Vaults, with RLUSD as the lending asset. * Clearpool will provide lending infrastructure, while Cicada will handle borrower sourcing, underwriting, and loan management. Cicada Partners, Clearpool, and Ripple are developing a lending platform on the XRP Ledger (XRPL) that would connect institutional capital with businesses seeking stablecoin-based financing. In an X post on Thursday, Cicada said the proposed structure would use XRPL's Lending Protocol (XLS-66) and Single Asset Vaults (XLS-65), with RLUSD serving as the lending asset. The project is currently being developed and tested on XRPL Devnet, so the lending system is not yet operating as a live mainnet product. Three companies take different roles. The proposed system separates lending infrastructure, credit management, and investment. Clearpool will provide the infrastructure for the credit pools, while Cicada Partners will handle borrower sourcing, underwriting, and loan management. Cicada said it has underwritten more than $860 million in credit, while Clearpool said it has facilitated more than $930 million in institutional loans since 2021. Ripple is participating as an investor in the credit fund alongside other investors. Cicada said Ripple's investment will be made on a pari passu basis, meaning it will participate on the same terms as other investors rather than serving as a backstop for the loans. In an X post, RippleX summarized the structure, stating, "Cicada brings credit expertise and a borrower pipeline, powered by Clearpool infrastructure built on the XRPL Lending Protocol and Single Asset Vault." The arrangement is therefore different from a lending protocol where borrowers and lenders interact directly through a common pool. Credit assessment and borrower management would remain with designated participants. Fintechs and payment firms targeted as borrowers. According to Cicada, the proposed borrowers include fintech companies, payment businesses and crypto service providers that use stablecoins for working-capital requirements. Loans would be denominated in RLUSD, allowing businesses to receive dollar-denominated financing on XRPL. The companies said the lending model is intended to generate returns from interest paid by borrowers rather than from mechanisms such as liquidity mining, arbitrage or leveraged DeFi strategies. The distinction is important because the project is aimed at business lending rather than simply creating another yield product for crypto traders. However, details such as the size of the initial lending pool, individual borrowers, loan terms, and expected returns have not been disclosed. XRPL lending features are not yet live. The proposed platform depends on two XRPL features that are still going through the network's amendment process: the Lending Protocol (XLS-66) and Single Asset Vaults (XLS-65). Cicada said development is currently taking place on XRPL Devnet. A technical demonstration is expected to show the proposed process from creating a lending pool through loan issuance and repayment. The lending system will therefore require the underlying XRPL features to be activated on mainnet before it can operate as described. RLUSD forms the lending layer. RLUSD is intended to serve as the primary asset used for the proposed credit markets. Cicada said RLUSD is regulated by the New York Department of Financial Services (NYDFS) and that its reserves are custodied by BNY. The proposed lending infrastructure would also use XRPL features including Credentials, Permissioned Domains, and Clawback. These tools are designed to provide additional controls around who can participate in specific applications and how assets can be managed. For institutional lending, that distinction could be relevant because borrowers and lenders may need to meet specific eligibility and compliance requirements rather than interact anonymously. SOL recently added to XRPL. The lending initiative follows another recent change to the assets available on XRPL. Earlier this month, SOL was brought to the XRP Ledger through Axelar, allowing users to trade the asset through the XRPL decentralized exchange and platforms including XPMarket, First Ledger and Magnetic. Users can also bridge SOL into the XRPL ecosystem through Axelar. The development expanded the range of assets accessible through XRPL, while the latest lending project focuses on adding another financial use case to the network. XRPL pushes beyond payments. The proposed lending platform comes as XRPL's ecosystem expands beyond its traditional focus on payments and settlement. The network has added infrastructure for stablecoins, tokenized assets, lending and other financial applications. The Cicada, Clearpool and Ripple initiative remains at an early stage, however. The lending features required for the system are still going through the amendment process, and the platform itself is being tested on Devnet. If the underlying amendments are activated and the project moves to mainnet, it would give businesses a way to access RLUSD-denominated credit through XRPL while allowing institutional investors to participate in curated lending pools. Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.