Update on Ripple's Recent Developments

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

Update on Ripple's Recent Developments

Ripple's CEO, Brad Garlinghouse, recently welcomed Jack McDonald, the CEO of Standard Custody, to the company as the Senior Vice President (SVP) of stablecoins. Garlinghouse expressed his satisfaction with McDonald's familiarity with the XRPL ecosystem and emphasized his excitement about having McDonald as part of the team.

McDonald brings with him over thirty years of experience in the financial sector. He held the position of Managing Director at UBS Investment Bank in 2000 and later became the President and CEO of Conifer Financial Services in 2014. Additionally, McDonald is involved in PolySign, a fintech firm founded by Ripple's Arthur Britto and David Schwartz, which oversees Standard Custody, a digital asset custodian.

Ripple's acquisition of Standard Custody in February was aimed at broadening its array of regulatory licenses. This strategic move followed the company's purchase of Metaco, a Switzerland-based cryptocurrency custody firm, for $250 million less than a year prior.

In January, Ripple shared its intention to enter the competitive stablecoin market with a dollar-backed cryptocurrency that will operate initially on the XRP Ledger and Ethereum platforms. Ripple President, Monica Long, anticipates a successful launch of the stablecoin project this year.

According to Ripple's latest announcement, the acquisition of Standard Custody has been finalized. McDonald, now appointed as the SVP of stablecoins at Ripple, will continue his role as the CEO of Standard Custody. The company's solid financial position positions it well for future acquisitions, as highlighted in a recent blog post.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

BotPsy Sets New Standards in AI Performance Benchmarks

Tether's QVAC BotPsy has achieved impressive scores in AI performance benchmarks, scoring 440 on BFCL v4 and 587 on ACEBench, surpassing larger models and demonstrating the potential of smaller AI models.

user avatarMiguel Rodriguez

Tether Launches Innovative AI Model QVAC BotPsy

Tether introduces QVAC BotPsy, an AI model with 800 million parameters that excels in performing everyday tasks on personal devices.

user avatarRajesh Kumar

CoreWeave's Strong Q3 Performance Boosts AI Sector Sentiment

CoreWeave's strong Q3 results have increased investor sentiment in the AI sector, reporting $366 million in revenue, a 168% year-over-year increase, and raised full-year guidance.

user avatarLuis Flores

Deutsche Bank Launches Crypto Custody Service for Institutions

Deutsche Bank has officially launched its crypto custody service for institutional and corporate clients in Europe.

user avatarArif Mukhtar

Yana Prikhodchenko Takes the Helm as CEO of Phase

Yana Prikhodchenko has been appointed as cofounder and CEO of Phase, a technology company focused on the AI agent economy.

user avatarDavid Robinson

Phase Unveils Layer 1 Blockchain Mainnet and AI Agent Services

Phase has launched its Layer 1 blockchain mainnet and AI agent services, enabling autonomous operations for AI agents.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.