Monica Long Named New President of Ripple

After serving as general manager for the company, Monica Long has been promoted to the position of president at Ripple. 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.

Up until this point, the role of president of Ripple has been somewhat of a mystery, with the title having been assigned to both of the company's co-founders, Brad Garlinghouse and Chris Larsen, at different points in time.

"The role entails maintaining a high level of scalability. We've been through many [crypto] winters, and despite this one, we just had a record-breaking year in terms of both our company and our consumer growth.

She went on to say that despite this atmosphere, "We are continuing to increase our workforce."

When there were just ten people working for the firm, Long joined Ripple. She was the driving force behind the creation of the On-Demand Liquidity solution for the firm, which was released in 2018 and is referred to be "Ripple's flagship product." In the last year, Ripple has launched an additional service that is called LiquidityHub, and according to Long, the business will continue to build on this service. In the previous year, almost sixty percent of RippleNet's payment volume was routed via ODL.

Regarding the RippleX side of things, Long said that an automated market maker specification will be put up for a vote by the validators this year.

Due to the current legal dispute between Ripple and the United States Securities and Exchange Commission, Ripple is often mentioned in the media. Ripple and its co-founders, Garlinghouse and Larsen, have been charged by the Securities and Exchange Commission (SEC) of conducting an unregistered securities offering to the tune of $1.38 billion and selling XRP (XRP) to retail investors in the capacity of an unregistered security.

On January 18, Garlinghouse said to CNBC that the corporation anticipates receiving a ruling about the issue this year.