Ripple's Chris Larsen Steps Down as CEO, Will Remain as Chairman

Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term, the New York regulated San Francisco based blockchain firm, just announced that Chris Larsen has decided to transition from his operational role as chief executive officer of Ripple to executive chairman of Ripple’s board of directors. He has named Brad Garlinghouse his successor as CEO of Ripple, effective January 1, 2017.

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“I’m grateful for the decades-long career I’ve had in Silicon Valley and look forward to taking a break from the day-to-day while staying highly involved in Ripple’s strategic direction,” said Larsen. “I feel good about making this change next year - the business is stronger than ever and we have such an obvious and capable choice for CEO in Brad Garlinghouse. Brad was central to driving the focus and rigor in our organization that’s fueled Ripple’s ascension.”

Garlinghouse said: “I’m honored to step into the role of CEO of Ripple and am grateful to work so closely with a visionary like Chris. I look forward to continuing to work with Chris and the board to set the strategic direction of the company. I could not have asked for a more talented, driven and creative group of people here at Ripple to work with side by side every day. I continue to be impressed by what this team has accomplished and look forward to taking Ripple to the next phase of growth.”

Only a couple of months ago the company completed a $55 million Series B financing to accelerate customer growth, pursue strategic partnerships and grow the team internationally.