RippleNet GM Quits Day Job at Ripple To Take Up Advisory Role

RippleNet general manager, Asheesh Birla, has announced his plan to leave his day job on Twitter. While Birla has not yet decided on his next career path, he will now serve on Ripple’s Board of Directors alongside former US Treasury Secretary Rosie Rios and JPMorgan veteran Sandie O’Connor.

1/ After ~9 amazing years I’ve decided to wrap up my day job at @Ripple. Luckily, I’m not going far as I join the Board of Directors, where I’ll continue to provide input on company vision + strategy. I haven’t decided what’s next, but plan to continuing BUIDL in crypto 🙂

— Asheesh Birla (@ashgoblue) June 9, 2022

According to CEO Brad Garlinghouse, 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 founder member of the company and was in charge of creating blockchain-based cross-border payment solutions.

Ripple was only a modest start-up when Birla joined. Crypto was still a novel concept back then. The now-defunct Mt. Gox exchange, which was 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 apart.

The firm’s debut of the On-Demand Liquidity solution (previously known as xRapid) was lauded by Birla as a “huge milestone.” Using XRP as a bridge currency, the offering provides for fast settlement of fiat payments.

Despite being sued by the US Securities and Exchange Commission, the RippletNet network managed to achieve $1 billion in monthly turnover in 2021.

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