Ripple Looks Back at 2018
In the latest Ripple Drop episode, Ripple looks back at 2018. The special holiday episode features SVP of Customer Success Marcus Treacher and SVP of Product Asheesh Birla.
The episode starts off with Reinhardt Cate, Ripple’s Producer and Editor, asking Marcus Treacher, SVP of Customer Success, about the various key milestones which the company saw in 2018. Answering Cate’s question, Treacher said:
“2018 was the year when RippleNet really came to life. So we built the network up to connect to 40 countries around the world and we’ve really started to bring the whole payment vision of Ripple.”
Cate then asks:
“So ripple doesn’t directly serve a remitter or a small to medium enterprise, our customers do. So, what kind of things have they been able to do with RippleNet for those end-users?”
To this, Treacher replied by saying:
“So, a good example is One Pay FX and One Pay FX is being rolled out by Santander and they’re really worldwide. Ripple is deriving a solution. What we are now doing is using that know-how and that learning to help them very quickly develop winning propositions for their own apps and their own instant banking services. What that’s doing is it’s creating a true global network and that’s starting to bring the internet of value to life.”
The episode then moves on to Cate asking SVP of Product, Asheesh Birla, about what the product team achieved this year. To this, Birla replied by saying:
“We wanted to make all the products work better with each other. And what I mean by that is xCurrent, you know, the product that we’ve been out selling in the market for now three plus years, we made that work with xRapid and why that’s such a big deal is because you don’t need to have the expensive capital tied up in Mexico. You can use xRapid for on-demand liquidity instantly sourcing liquidity and delivering your payment into Mexico. One of the really exciting things about xRapid is that not only did we get the product launched not technically, but we got it live in Mexico, we got it live in the Philippines as well.”
Cate then asks Birla what 2019 looks like as of now to which he replies by saying:
“We want to bring xRapid to more corridors. We’re looking at what specific corridors have regulatory clarity that we need but also solve a big pain point for a customer.”
Ripple has been quite vocal about the state of the regulatory systems across the globe and has educated the people a lot of regulation.
Not too long ago, Sagar Sarbhai, the company’s Head of Government and Regulatory Relations for APAC and the Middle East, talked about the regulatory approaches driving innovation in Thailand and Abu Dhabi.
Talking about the state of regulations pertaining to the crypto industry in Thailand, he said:
“Like Japan, Thailand’s Central Bank, the Bank of Thailand (BOT), was reacting to market demand for digital assets when it moved decisively in 2018 to protect its consumers and institutions, by banning banks from offering services to digital asset exchanges. Then, just a few months later, the Thai government switched course and announced progressive regulations designed to encourage investment and innovation.”
Adding to it, he said:
“With ambitions to be the fintech hub for the ASEAN region (Association of Southeastern Asian Nations), Thailand’s government had recognized the importance of finding balance — creating a framework for digital asset regulation that addresses risk while also supporting innovation. It chose not to regulate the technology, just how it’s being used.”