Ripple, a cryptocurrency solution provider, has promoted Monica Long from general manager to president.
Long joined Ripple in 2013 when the company only had 10 employees. Today, the California, US-based business provides solutions for cross-border payments, crypto liquidity and CBDCs.
Long helped to launch Ripple’s flagship product—On-Demand Liquidity (ODL)—in 2018, which uses crypto for cross-border transactions.
Last year, approximately 60% of payments over RippleNet, Ripple’s cross-border payments product, were sent through ODL. RippleNet has processed $30b worth of volume and 20m transactions since its launch.
Long was promoted to general manager of RippleX in 2020, where she oversaw product, engineering, CBDCs, and more as part of her role.
She was appointed as RippleNet general manager in June 2022, in addition to her work for RippleX. In this role she was responsible for the development and growth of ODL and global customer success.
Brad Garlinghouse, chief executive officer at Ripple, commented: “Even in the current challenging crypto environment, Monica has helped guide Ripple to a very unique place of growth and financial strength.”
On her new role, Long said: “I’m incredibly honoured to take on the role of president at Ripple as we expand deeper into crypto-enabled services like liquidity, settlement and custody.
“Looking back over my tenure, we tackled some huge audacious goals—like being able to send money instantly for fractions of a penny around the world. The internet of value is a mission I believed in on day one and continue to find inspiration in for the future.”
Chris Larsen, Ripple’s executive chairman and co-founder, added: “[Long] joined us when crypto was unheard of, and to see her grow over the last ten years into the fantastic leader she is today, is a testament to how far the industry has come.”
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