Founding company of XRP, Ripple has recently added former MasterCard Executive Sendi Young to the team on the role of managing director for its EU operations and to take part in the enhancement of RippleNet, which is the company’s own global financial technology solution that is powered by XRP.
Sendi’s Value to Ripple
Posting about the recruitment in a blog post, Ripple mentioned how Sendi Young would be a valuable person to work with. The post said stated that Sendi has dedicated more than 15 Years of her life to gain significant experience in fintech, payments and professional financial consultancy. Sendi has also been a former employee at MasterCard, where she dedicated five years to mastering leadership skills to develop excellent strategies, work on commercialization and overall development of the business.
Sendi mentioned herself that she was leading the part of innovation in financial services and saw it with her own eyes, how financial technology has evolved over the years. Sendi also said that she believes that blockchain technology and cryptocurrency will become a key part of evolving the current financial systems by helping to solve the problems that make them inefficient.
Growth of RippleNet
The blog post also mentioned that RippleNet had seen an impressive growth rate, especially in the UK, where Ripple thinks that the market is ‘critical’. The UK customer base makes up nearly a quarter of all of Ripple’s customers, from which it was found out that On-Demand Liquidity Transactions had a staggering growth percentage of around 250% compared to last year, covering up nearly 40% of the total transactions.
As mentioned in the company’s webpage, RippleNet opens the door to users who want to make connections with a collection of financial institutions around the globe, using a single API, helping them generate wealth that is reliable, faster and much cost-effective. Ripple’s ODL solutions use XRP tokens to source out liquidity in the events of international transactions.
Problems with the SEC
Ripple has been struggling to deal with the lawsuit that has been registered by the SEC, blaming some of Ripple’s top executives for racking up Billions of dollars from Unregistered sources. According to an analyst, if Ripple was to settle the lawsuit, it could develop a supply problem, making the token’s price rise as demand continues to increase.