Ripple (XRP) hires Sendi Young from Mastercard as European Lead

Karthik Subramanian

Ripple (XRP) has announced that it has hired Sendi Young from Mastercard for heading the growth and expansion of RippleNet’s European operations.

The company has been trying to push its way through the SEC in the US over the last few months but so far, it has not had much success. So, it is only natural that Ripple starts looking into Europe as the next frontier for it to grow. With increasing talk of many central banks in Europe carrying out trials in digital currencies and with Ethereum competing with Ripple as the blockchain of choice for CBDC’s, the company has started feeling the heat and the need to grow globally and in a short time to head off some of the competition.

In this regard, the hiring of Young is a move in the right direction as she has over 15 years of experience in the fintech and payments industry and recently, she was the Digital and Fintech Global Lead at Mastercard where she has been working since the beginning of 2016. Her time at Mastercard would have given her a lot of experience in commercialization, bank-fintech partnerships, and business development, all of which are likely to be put to full use at Ripple (XRP).

“The underlying payments and banking infrastructure remain an obstacle to frictionless value exchange across borders and inclusion,” Young says. “I firmly believe that blockchain and crypto will be a game-changer to enhance today’s finance, by addressing its core inefficiencies. These technologies can make the global financial system fairer, more inclusive and more transparent.”.”

A quarter of Ripple’s customers are based out of Europe and the on-demand liquidity transactions have grown by over 250% as compared to last year, the company said. This is the reason for the company to start focussing on Europe especially and the need to appoint a Head to take care of its business in the region.

Asheesh Birla, general manager of RippleNet, comments: “Sendi’s appointment represents a huge opportunity for our European operations given her leadership experience, deep understanding of the payments landscape, and knowledge of how to grow and scale a network business.”

Ripple would hope that its renewed focus in this region would yield dividends in the long run and it would be able to push its case to many financial firms and banks in the region which would remove some of the heat and pressure that it is facing from the SEC over the last several months.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”