Goldman Sachs FX Executive Aditya Turakhia Leaves to Ripple

Goldman Sachs’ Executive Director in charge of Global FX and Emerging Markets Franchise Management, Aditya Turakhia, has joined Ripple.  Turakhia left the American multinational investment company after spending over 7 years with them.

August 19, 2020 | AtoZ Markets – Blockchain companies keep attracting top staffers from major banks, and now a top-tier executive has left Goldman Sachs to work for Ripple.

Aditya Turakhia Joins blockchain giant Ripple

According to his LinkedIn page, Aditya Turakhia has been working for Ripple in the UK since August 2020. He works full time as a senior manager of global institutional markets.

Turakhia previously worked for Goldman Sachs for more than seven years, since 2013. However, Turakhia changed positions multiple times until his promotion to the post of Executive Director of Global FX management.

Back in 2018, many millennial executives from banks and other traditional financial institutions started leaving their well-paid jobs to join companies working in the nascent spheres of DLT and crypto.

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Some were simply giving up their jobs in banks because they began living off the profits from crypto they had acquired earlier.

Ripple continues to expand rapidly

In November 2019, Ripple CEO Brad Garlinghouse stated that his company counted more than 300 customers. The majority of those are financial institutions.

Related article: Ripple May Expand ODL Payment Service to Brazil

However, according to a recent article in The New York Times, some of Ripple's major customers — such as Spanish Santander banking giant — are not interested in utilizing XRP for cross-border payments.

According to the article, Ripple may be misleading its investors about banks using their XRP coin in the future. The article added the company is also misleading its investors with its plans to become a version of Amazon but having to do with payments.

This article faced a backlash from Garlinghouse on Twitter, who stated that Ripple is not changing its original business.

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