Ripple Brings New President, Aims to Hit Big in 2023
- Ripple’s SVP and General Manager, Monica Long, will now be leading the company as the President.
- Long joined Ripple when the company had just begun its expansion in 2013 and “crypto was barely a blip on the radar.”
- She helped in launching the company’s On-Demand Liquidity (ODL), which is currently utilized in 40 countries on various continents.
- CEO Brad Garlinghouse stated recently that the company’s lawsuit with SEC is expected to end in first half of 2023.
Ripple, an American technology company responsible for the development of the XRP payment protocol and exchange network, has announced that its SVP and General Manager, Monica Long, will now be leading the company as the President. The firm attempts to make a big comeback in 2023 and also expects its ongoing lawsuit with the United States Securities and Exchange Commission (SEC) to settle this year.
“Coming off our strongest year yet, Monica is one of the driving forces behind why we have been as successful as we are today despite multiple crypto winters and headwinds in the industry,” said Ripple in a blog post.
Interestingly, Long joined Ripple when the company had just begun its expansion in 2013 and “crypto was barely a blip on the radar.” Long was “in the trenches establishing Ripple as a responsible leader in the crypto industry—working with regulators and evangelizing the benefits and utility of crypto, as well as earning the trust of financial institutions globally,” stated the blog post.
It is also crucial to note that Long has also contributed to the launch and development of Ripple’s On-Demand Liquidity (ODL), which is currently utilized in 40 countries on various continents. ODL is known for settling payments almost instantly and eliminating the need for pre-funded destination accounts.
In Long’s nine years with the company, she helped the company transform from a 10-employee firm to one with more than 500 employees.
“Even in the current challenging crypto environment, Monica has helped guide Ripple to a very unique place of growth and financial strength. She’s been an instrumental adviser to me over the years and I’m grateful to have the opportunity to partner with her even more closely as she embarks on her role as President,” said Brad Garlinghouse, CEO of the company.
Garlinghouse also stated that from the first time he met Long, “it was clear that she was a force to be reckoned with.” The executive added that Long’s “deep knowledge of crypto paired with her determination, creativity and ability to think out of the box has made her one of the most respected leaders in the industry and certainly at Ripple.”
As reported earlier by Bitnation, the company struck a deal with Japan’s leading money transfer provider, SBI Remit, to use the RippleNet Technology to enable instant remittance services between Japan and Thailand. Interestingly, Siam Commercial Bank (SCB), Thailand’s major insurance company, has also come on board with the idea of using RippleNet.
Garlinghouse recently confirmed that Ripple’s battle with the SEC will come to an end in the first half of 2023. He added that the judgment should arrive “some time in the coming single-digit months,” possibly as soon as June. The executive stated that they are open to a settlement, but only if the SEC accepts that the XRP token is not a security.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
