Blockchain payments company Ripple has announced the appointment of a new managing director (MD) for Southeast Asia, media reports said. Ripple has appointed Brooks Entwistle who has three decades of experience working with tech and fintech companies.
Entwistle has previously worked with Goldman Sachs, where he was CEO, Singapore and chairman of Southeast Asia. As the MD of Ripple, he will drive digital assets and blockchain adoption in the region. He also served as the chief business officer at Uber. During his spell with the ride-hailing giant, Entwistle launched Uber’s services in new markets and navigated through regulatory challenges across Asia Pacific.
In December, it was reported that Ripple has established its regional headquarters at the Dubai International Financial Centre (DIFC). Ripple has chosen DIFC for its reputation as a leading global financial centre.
Arif Amiri, chief executive officer of DIFC Authority told the media, “Leveraging DIFC’s world class platform, laws and regulations, our fintech firms are able to work with other DIFC’s clients, who form part of the region’s largest financial ecosystem, to contribute to the development of the global, regional and local finance industry. During this post-pandemic recovery period, we recognise how digital agendas are being prioritised. Ripple and the other 230 fintech related companies in the Centre are key to driving the future of finance.”
Previously, Ripple Labs said that the company could move into Japan or Singapore in Asia if it exits the US due to a lack of regulatory clarity. In December, the SEC charged Ripple and its principal executives of violating securities laws in the sale of XRP tokens since 2013.