Ripple recruits Facebook Payments Executive to carry out a Pivotal Role 18211
Roshni Vayyapuri
Jul 12, 2018 at 1:56 AM

The San Francisco-based blockchain company Ripple announced the hiring of Kahina Van Dyke on Wednesday as the new Vice President of Business and Corporate Development. She recently worked as Facebook’s global payments director, as its new senior vice president of business and corporate development.

According to sources Van Dyke is also a board director for Progressive Insurance and has served in key roles for Mastercard and Citibank.

The hiring was announced amid an ongoing campaign by the company to convince the financial industry to use XRP—a cryptocurrency of which Ripple huge stores—to enable cross-border payments.

In a blog post by the company announcing the hire, reads,

"Ripple is thrilled to have Kahina Van Dyke join our leadership team as the new senior vice president of business and corporate development. With more than 20 years of experience in banking and technology, Van Dyke will focus on driving new, strategic partnerships for Ripple across the global financial services industry."

Van Dyke who is excited to join the team stated,

"Ripple’s approach is not just disruption for the sake of disruption. Ripple is built around establishing partnerships and applying technology to change an industry. I think that is a really powerful message.

It’s why over 100 financial institutions work with Ripple, and will continue to do so. It’s why Ripple has some of the world’s most notable partners, both traditional banks as well as newer fintech players."

Van Dyke explained about the importance to offer companies, as well as individuals, with a way of transacting “small and large amounts of money faster and at lower cost,” stating that the system should be “more nimble and transparent” than the one developed for large corporate transactions “decades past.”

See also: Panic selling post India’s central bank ban opens door for cryptocurrency arbitrage

Meanwhile, Schwartz is promoted as the CTO replacing long-time predecessor, Stefan Thomas- the one who created many elements of Ripple’s blockchain technology.

Schwartz said in a statement, “Building a global network of financial institutions who are using blockchain-based solutions is no small task, but we have the technical folks at Ripple to make it a reality. We’re also going to hire a lot more of them.” 

The team says Schwartz and his team will also be assigned tasks with the further decentralization of the XRP Ledger, which records XRP transactions.

Brad Garlinghouse, CEO of the company, stated,

“David and Kahina exemplify success. At every step in their careers, they have shown the type of leadership qualities and business prowess that will be instrumental as Ripple continues to grow. This is a fantastic duo that showcases the two sides of Ripple. David is a world renowned leader in the blockchain and digital asset world, and Kahina is a seasoned veteran in the traditional banking and financial services industries.”

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