Ripple has hired Goldman Sachs and Uber tech veteran Brooks Entwistle to expand its operations in Southeast Asia despite the ongoing XRP securities lawsuit.
Brooks Entwistle joined Ripple after serving as Chief Business Officer at Uber, driving the company’s growth and bypassing regulatory issues across the Asia Pacific region. The new managing director of Ripple’s wing in Southeast Asia previously spent two decades at Goldman Sachs, serving as a partner and chairman in the same geographic region.
Ripple’s determination to press ahead with its Asian expansion at RippleNet despite the ongoing lawsuit with the US Securities and Exchange Commission (SEC) is not surprising.
Brad Garlinghouse, CEO of Ripple Labs, claimed in early March that Ripple’s expansion in the region is continuing and that its progress will not be affected by the XRP securities issue.
RippleNet is Ripple’s owned network of financial institutions and payment processors. Their use is not dependent on XRP coin, and the fortunes of either have no good reason to influence the other, for good or bad.
RippleNet’s general manager, Ashish Birla, said the appointment of Entwistel was an indication of the need for knowledge of the region as Ripple negotiates with banks from various countries in Southeast Asia.
Birla explained, “The payments ecosystem in Southeast Asia is very dynamic with fairly complex country-specific schemes requiring a lot of in-depth knowledge […] We are delighted to welcome Brooks to lead the task as Ripple is doubling down on its efforts to boost our tremendous growth in Region“.
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