Ripple is proud to announce the appointment of Sendi Young as Managing Director of its European operations. Amid its rapid growth, Sendi will oversee the strategy and advocate the expansion of Ripple’s global financial network technology, RippleNet, which provides financial solutions that enable customers to easily run and scale their businesses.
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With over fifteen years of fintech, payments and advisory experience, Sendi joins Ripple after five years at Mastercard where she held leadership roles in strategy, commercialization, banking-fintech partnerships and business development. Most recently, Sendi led the Fintech & Digital segment worldwide for Mastercard’s Data & Services business and expanded services that support banks with the introduction of real-time payments, open banking and artificial intelligence. Sendi brings its in-depth industry and regional know-how, which is used to develop and further develop customer success throughout Europe.
“For the past decade, I’ve been a leader in innovation in financial services and I’ve seen technology dramatically change the way we bank and make payments. However, the underlying payment and banking infrastructure remains an obstacle to the smooth cross-border exchange of values and integration. I firmly believe that blockchain and crypto will break the ground in improving today’s financial world by addressing its core inefficiencies, ”said Young. “These technologies can make the global financial system fairer, more inclusive and more transparent – this is just the beginning of what is possible and I am excited to be part of such a talented and passionate team and company that is at the forefront of this step stands – change. “
“The appointment of Sendi represents a great opportunity for our European business given their leadership experience, deep understanding of the payments landscape and knowledge of how to grow and scale a network business,” said Asheesh Birla, general manager of RippleNet. “As the adoption of crypto and blockchain increases, more and more financial institutions, payment service providers and small businesses are turning to trusted players in the industry to prepare them for a crypto-enabled future. We are happy to win someone who understands and shares Ripple’s vision. ”
RippleNet continues to scale in Europe with 250% ODL transaction growth
Europe is a critical market for Ripple and has seen tremendous transaction and customer growth. A quarter of Ripple’s current customers are based in Europe, and for the year to date, European On-Demand Liquidity (ODL) transactions grew 250% compared to 2020, accounting for over 40% of all ODL transactions year-to-date.
Europe continues to lead in fintech and payment processing, making it a critical market for Ripple. Countries like the UK, which have provided clear regulatory guidelines for digital assets, are leaders in payment innovation and offer new opportunities for regional growth. Europe has also passed open banking regulations that will help accelerate the rollout of fintechs in the region.
Europe continues to offer RippleNet strong momentum, both for new and existing customers:
- UK based payment company and new RippleNet customer Paydek has partnered with Ripple to deliver real-time cross-border payments to Africa to meet the needs of its customers operating in the global gig economy.
- Xbaht, a Sweden-based remittance company uses RippleNet to send cross-border payments to Thailand. Since launch, Xbaht has migrated the majority of its streams to RippleNet to send its payments instantly, reliably and inexpensively.
- Lemon road, which provides payment solutions for online marketplaces, turned to RippleNet to address financial management challenges and delays in withdrawals and billing. The provision of instant payouts gave them a competitive edge over their competitors, and as such, they have continued to scale operations with RippleNet and have seen more than 400% volume growth since launch in 2020.
- Long-time customer MoneyNetint, which previously focused on clearing capabilities for EUR and USD for international financial institutions, is continuing to roll out new corridors with RippleNet, most recently for referrers sending payments from the UK and EU to Brazil.
RippleNet leverages blockchain technology to help partners in a global network accelerate their business performance and scale. It offers a superior end customer experience, simplified network partnerships, liquidity management solutions, credit lines and a state-of-the-art infrastructure to enable real-time payments.
To learn more about RippleNet, visit https://ripple.com/ripplenet.