As the ongoing U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs approaches a resolution, the cryptocurrency payment firm has named a new president. The new president has announced that Ripple plans to explore the realm of cryptocurrency services further.
Ripple Appoints New President, Monica Long Takes The Lead
Ripple, a cryptocurrency payment firm, has revealed the naming of its new president. Monica Long, previously the senior vice president and general manager of the company, has been promoted to the new role after being part of Ripple for nine years since 2013.
The new president reflects on her experience and recognizes the privilege of working with some of the most intelligent and innovative individuals in the cryptocurrency and technology sectors. She also mentioned Ripple’s efforts to achieve ambitious goals, such as providing affordable and instant cross-border money transfers. She also maintained a strong belief in the “Internet of Value” mission since day one and continues to find inspiration for the future.
According to Monica Long’s tweet, she has spent over half of her professional career in the cryptocurrency industry, with a significant portion of that time spent at Ripple. She expresses excitement and gratitude for the opportunity to serve as the company’s President. The appointment was made by Brad Garlinghouse and Chris Larson, both co-founders at Ripple.
Ripple’s New President Sets Sights on Cryptocurrency Services Expansion
The recently named president of Ripple stated that the company plans to further explore the realm of cryptocurrency services, specifically in the areas of liquidity, settlement, and custody. This focus is expected to extend to the XRP Ledger as well, as the individual has prior experience serving as the general manager of RippleX and was involved in its development. During her tenure, significant progress was made, including the completion of the first phase of EVM sidechain development and the emergence of NFT on the XRPL, following the implementation of the XLS-20 amendment.
Monica Long joined Ripple when the company was still in its early stages, with only 10 employees. She played a leading role in the creation of On-Demand Liquidity, Ripple’s flagship product, which was introduced in 2018. Last year, the company introduced LiquidityHub, a complementary service, and plans to expand it further. According to Long, On-Demand Liquidity accounted for over 60% of RippleNet’s payment volume in the previous year.
Monica Long has received recognition from the San Francisco Business Times for being a highly influential woman in the business and payments industry. She was also included in HSBC’s initiative, “Women on the Rise in FinTech,” which aims to highlight gender diversity and honor prominent women in the industry.