Asheesh Birla, General manager of RippleNet, is Stepping Down
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According to CEO Brad Garlinghouse, after Asheesh Birla, Monica Long, another long-time executive, will now head both RippleNet and RippleX. Birla had an incredible impact on the organization, according to Garlinghouse. Birla began working for the San Francisco-based firm in 2013. He was a founding member of the company and was in charge of creating blockchain-based cross-border payment solutions.
Stripe Attempted to Acquire Ripple
Ripple was only a modest start-up when Birla joined. Cryptography was still a novel concept back then. The now-defunct Mt. Gox exchange, the market leader at the time, was barely handling $2 million in daily transactions. In comparison to today's $1.3 trillion, the whole crypto market cap was only $1.6 billion. Stripe attempted to purchase Ripple in 2013, but the deal fell through. The company's debut of the On-Demand Liquidity solution (previously known as xRapid) was praised by Birla as a "major milestone." Using XRP as a bridge currency, the offering provides for fast settlement of fiat payments.