Main navigation

Ripple Gets New President: Details

Fri, 01/27/2023 - 16:45
article image
Gamza Khanzadaev
Ripple undergoes management change, appoints new president
Ripple Gets New President: Details
Cover image via
Read U.TODAY on
Google News

Crypto payment company Ripple has announced the appointment of a new president. The now former senior vice president and general manager of the company, Monica Long, who joined the company nine years ago in 2013, has been given the new honorary position.

According to the press release, it was the Long team responsible for launching On-Demand Liquidity (ODL), one of Ripple's key products using XRP, which has now spread to 40 countries through a network of partners on each continent.

Former Ripple Director Explains Why XRP Didn't Take off Like Bitcoin (BTC)

As reported by U.Today, citing Ripple's latest quarterly report, XRP turnover through ODL corridors is about $2.8 billion, with $311 million in net sales of XRP. Meanwhile, the total volume of payments through RippleNet, according to the latest figures, amounts to $30 billion.

What's this appointment about?

According to the freshly appointed president, Ripple will continue to dig deeper into the field of crypto services focused on liquidity, settlement and custody. The same is likely to apply to XRP Ledger, in the development of which Long was involved, serving as general manager of RippleX. It is noted that under the Long term, the first phase of EVM sidechain development was implemented and NFT on XRPL appeared, following the introduction of the XLS-20 amendment.

Ripple Will Win Now, 'Zero Doubt,' CryptoLaw Founder Says, But There's a Catch

It could be said that Ripple has appointed someone to the presidency who brings together both hemispheres of the ecosystem and has extensive expertise in both payments and blockchain.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.