The resignation of Ripple’s COO takes effect on January 1 next year

NEW YORK (Reuters) – Ripple, the financial technology startup, announced on Tuesday that its chief executive Chris Larsen has decided to resign from his current role as chairman of the company’s executive board, Reuters reported on Tuesday. The company’s chief operating officer, Brad Garlinghouse, will become the new CEO, effective January 1 next year.

Ripple, based in San Francisco, is a bank that provides cross-border payments based on data block chains, which have raised more than $ 90 million from many investors. The data block chain is a digital currency bit-coin technology that can share data across computers in the network, a technology that is popular due to the ability to record and track assets across all industries. “I’ve been working in the financial technology industry for 20 years and I want to give up the day – to – day management of the CEO,” Larson said.

“I’ve been trying to balance work and child rearing, but it’s hard to do,” he told Reuters, “and I’m excited about Brad, about our development and Brad’s work and his work for us,” he told Reuters. “Larson co-founded E-Loan, one of the first online mortgage-lending platforms in 1996, to $ 1 billion by the year 2000. 2006 Larsen also co-founded the United States first P2P lending market Prosper Marketplace.

Garlinghouse was originally CEO of cloud services company Hightail. Prior to that, he also served as AOL’s president of applications and business, Yahoo senior vice president. “We’re going to stick to the road at Ripple,” he said in an interview. “We do not want to make a 180-degree turn,” he says, but one area is where the company will focus. , Which became the global payment guidance organization. September Ripple announced the creation of the first inter-bank global payment organization based on distributed finance or block-chaining technology.

Bank of America, Merrill Lynch, Banco Santander, UniCredit, Westpac, Standard Chartered Bank and Royal Bank of Canada are founding members of the Global Payments Steering Group, the CIBC (Royal Bank of Canada) Will also join the organization. (Wood Xiulin)

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