XRP‘s recent price performance may have left many investors unhappy after issues emerged between the US Securities and Exchange Commission and its parent company, Ripple. However, the crypto firm has continued to soldier on in its quest to expand its global reach. Yesterday, the fintech firm announced an ex-Uber executive, Brooks Entwistle, as its head for the Southeast Asia region.
Ripple says that Brooks will lead the firm to achieve its growth objectives and maneuver the Asia-Pacific complex regulatory environment. Brooks is a man well prepared for the job. Not only did he lead Uber in navigating similar issues in Asia, he has also worked previously with Goldman Sachs in the same region for over 20-years.
By hiring Brooks, the embattled firm aims to push through with its Ripplenet instant settlements technology. According to the company’s CEO, Brad Garlinghouse, the expansion of Ripplenet in Asia is not affected by the regulatory issues that the firm is facing in the U.S with regards to XRP.
The CEO’s sentiments are shared by Ripplenet’s general manager Asheesh Birla. Birla says that Brook’s entrance into the picture is an indicator of the need to push the XRP-powered technology to specific regions. He added that such a focus on regions would help the company negotiate with banks and drive up the adoption of the technology.
Birla further stated that the Southeast Asian region is dynamic, and what may fit in one country may not work in the other. So, it is vital to have a person like Brooks on board, as the company seeks to push further in its quest for growth in this region.