To undertake the implementation of Ripple (a renown blockchain-based payment network), the United States’ second-largest bank has decided to hire a specialist.
After Oct. 10, no more applications for Ripple’s “treasury product manager” would be accepted by Bank of America (BoA) as per a job description that appeared on LinkedIn — professional social network.
The occupant of the position will lead Ripple Project’s product management team. Ripple Project is a cross border payments solution based on decentralized ledger technology that basically aids GTS clients.
It also read as follows:
“The incumbent will be responsible for driving product strategy and growth, overseeing daily product management routines, and overseeing the development of new initiatives that result in an innovative and highly-competitive product offering.”
Analysts now suspect that BoA has joined the escalating number of banks that are eyeing Ripple’s investments.
Warming up to crypto
The bank’s traditional approach towards cryptocurrency has been hostile in the previous years despite its size — as it had repeatedly blocked account holders from adequately completing transactions.
However, in 2019, the whole scenario took a different turn. BoA decided to join R3’s Marco Polo blockchain trade platform in September after submitting a digital currency wallet patent earlier on in August.
In conclusion, even though having cryptocurrency knowledge is not a mandatory requirement, the treasury product manager is required by all means to be well experienced in the payments sector.