Uber, Goldman Sachs Veteran Joins Ripple as Asia Managing Director
Ripple taps a finance and tech veteran to be managing director in Southeast Asia.
Ripple has hired Goldman Sachs and Uber tech veteran Brooks Entwistle to expand its operations in Southeast Asia.
- In an announcement posted Thursday, Ripple said Entwistle has been appointed as the new managing director of its Southeast Asia business headquartered in Singapore.
- Prior to joining Ripple, Entwistle worked for three decades in finance and technology firms, most recently at Uber, where he was chief business officer (international). Before that he spent more than 20 years at Goldman, including a stint as chairman of the bank's Southeast Asia business.
- The appointment comes as Ripple is expanding its presence across Southeast Asia which includes 14 countries for its RippleNet and has seen transactions in the region grow 10 times in 2020.
- Growth in Asia is particularly important to the company in light of its legal woes in the U.S. Ripple was sued by the Securities and Exchange Commission in December 2020 which alleges the firm violated securities law, arguing the company failed to register its XRP token as a security or seek an exemption before the company began selling it seven years ago.
- “The adoption of RippleNet among the region’s many fintechs, payments service providers and SMEs makes Southeast Asia our biggest market for both customer demand and transaction growth," said RippleNet general manager Asheesh Birla.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.