Former Uber top executive Brooks Entwistle has taken the role of managing director for Southeast Asia at Ripple, as the XRP issuer expands its customer base in the region.
Join us in welcoming @BrooksEntwistle as Ripple’s new Managing Director of Southeast Asia and Singapore’s BKK Forex to #RippleNet! https://t.co/TJWrlSXwdO
— Ripple (@Ripple) March 19, 2021
Ripple noted that RippleNet is being used for payments at the fastest pace in Southeast Asia. In 2020, the number of deals signed with local partners rose tenfold.
As Uber’s chief commercial officer, Entwistle launched a regional growth strategy and navigated regulatory issues for the tech company in the Asia-Pacific region, according to the statement. Before joining Uber, he spent more than 20 years at Goldman Sachs in Southeast Asia.
“I’m very pleased to join Ripple to extend its presence in this key region,” Entwistle said.
Earlier, Ripple CEO Brad Garlinghouse, summing up 2020, called it “a watershed year for the company” and noted that Asia has become the core market for RippleNet. According to him, the SEC’s lawsuit against the firm has not affected business in the region.
Against the backdrop of the SEC lawsuit, in which the regulator accused Ripple of unregistered sale of securities worth $1.3 billion in XRP tokens, MoneyGram suspended cooperation with the company. Ripple, which had previously invested in MoneyGram, ended its partnership with the firm.
In the summer of 2019 the service began processing cross-border payments via the On-Demand Liquidity (ODL) system, which uses XRP.
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