Monica Long, who has worked for Ripple since 2013, has been named the company’s new President at Ripple Labs.
Ripple, a company that facilitates cryptocurrency transactions for cross-border payments, recently made the announcement that a new president, Monica Long has been selected.
Ripple CEO Brad Garlinghouse extended his congratulations to Ms. Long, stating that she had made significant contributions to the company, which, as a result of her leadership and dedication, has experienced enormous growth over the course of the years.
Ms. Long expressed her gratitude for the CEO’s words and remarked that the new position of becoming President of the company is both an honor and an opportunity of a lifetime.
Despite ongoing dispute between Ripple and the US SEC, the appointment reflected Ripple’s objectives for internationalization, and the product on On-Demand Liquidity (ODL) proved successful.
Ripple will reportedly continue its push deeper into the sphere of cryptocurrency services, with a particular emphasis on liquidity, settlement, and custody, as stated by the company’s newly appointed president.
Who is Monica Long?
Monica Long began her career with the company in 2013 as the Director of Communications. In 2018, she was promoted to the position of General Manager of RippleNet, the company’s financial network, in addition to her previous role as General Manager of RippleX, the blockchain development arm of the business.
What is RippleNet?
RippleNet is a decentralized worldwide network of banks, payment providers, and digital asset exchanges that use Ripple’s technology to conduct cross-border payments and other financial transactions. Using XRP as a bridge currency, RippleNet can speed up and lower the cost of cross-border payments. The technology offers tools and services like On-Demand Liquidity (ODL) to enable financial institutions to manage and settle transactions on the network.
What is RippleX?
RippleX is a suite of developer tools and technologies built on the RippleNet network, that enables the creation of decentralized financial applications. It provides a set of APIs and other resources for developers to create and deploy various types of financial services and applications on top of the RippleNet network. RippleX can be used to create applications such as remittances, micropayments, and e-commerce solutions, among others. It also offers a set of open-source libraries, protocols, and tools that enable developers to easily interact with the RippleNet network, and provide access to the network’s underlying functionality. This allows developers to create new financial services and to access new markets, and also leverage the advantages of the network such as the low transaction costs and fast transaction processing times.
Final Thoughts
Ripple reportedly has announced Monica Long as its new president and the company is moving forward with its business despite the ongoing legal challenges against the US Securities and Exchange Commission. However, the company has utmost confidence in its leadership and believes it can navigate the legal challenges and continue to grow its business.