Ripple has announced its latest hire of Brooks Entwistle, Uber’s former Chief Business Officer, who is joining the company as the Managing Director of its Southeast Asia region.
Ripple’s scaling operations in the region will now incorporate the expertise of Brooks Entwistle. While at Uber, Ripple’s new Managing Director led the company to launch its services into new markets in the region.
Ripple’s Presence in the Southeast Asia Region is Gaining Momentum
The leading provider of enterprise blockchain solutions for global payments is enjoying profits in the Southeast Asia region especially with the latest partnership with BKK Forex and existing clients like iRemit, and Siam Commercial Bank.
Ripple has taken a keen interest in the Southeast Asia region for the increasing popularity of digital payments in the area. Already, Ripple saw a ten-fold increase in transactions in 2020. According to the company’s General Manager Asheesh Birla, the significant intake RippleNET has experienced by Southeast Asia payments service providers, and SMEs make the region Ripple’s biggest market for customer demand and transaction growth.
Additionally, there have been rumours recently over a lawsuit against Ripple by US regulators. Ripple was allegedly selling XRP to US investors without prior registration. Ripple lost its partner MoneyGram who feared the regulatory backlash that could arise from the accusations. The allegations may also contribute to Ripple’s increased scaling efforts towards the Southeast Asia region. Uber’s former Chief Business Officer’s entry into Ripple seems like the company’s newest strategy to take over the region.
Brooks to Bring Decades of Financial and Technological Experience
Ripple’s new Managing Director not only brings Uber’s experience into Ripple. Brooks was also the managing director and chairman of the banking giant Goldman Sachs in Southeast Asia. The decades of financial and technological senior management experience that Brooks carries will now be utilized by the leading provider of enterprise blockchain solutions for global payments.
According to Ripple’s new Managing Director Brooks, through his LinkedIn account, his Uber to Ripple transition and hence the fintech and crypto industry was an obvious choice. He had already spent two decades living in the region and working in finance and technology companies.