On June 9, Asheesh Birla, general manager of RippleNet, announced on their official Twitter handle his plans to leave Ripple.
As of now Birla has not officially announced his next professional step and now will serve on Ripple’s Board of Directors along with former US Treasury Secretary Rosie Rios and Sandie O’Connor.
In 2013, Birla joined the San Francisco-based firm and serves as in charge of creating blockchain-powered cross-border payment solutions.
Rippler, a long-time Ripple employee, is named CEO of RippleNet, a global payments network for banks and financial institutions. Birla joined Ripple while it was still a startup company.
Every industry believes that cryptocurrency is still a new concept at the time. The market leader, Mt. Gox exchange was only handling $2 million in trades per day. At the time, the total value of the crypto market was just $1.6 billion, a drop in the bucket compared to today’s $1.3 trillion. Stripe attempted to buy Ripple in 2013, but the transaction fell through.
Birla regarded the launch of the On-Demand Liquidity service (formerly known as xRapid) as a “significant milestone” for the company. The product allows for the quick settlement of fiat payments by using XRP as a bridge currency.
