- The President of Ripple, Monica Long speaks at the Newcomer Banking Summit.
- Amongst a panel of peers, the discussion addresses the SVB banking crisis.
- Ripple’s ODL services connect financial services across the globe.
President of cryptocurrency company Ripple, Monica Long joined the Newcomer Banking Summit 2024 in San Francisco, California on March 14 to talk about what has changed since the SVB managed an account emergency.
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The Newcomer Banking Summit 2024 hosts a select gathering of Silicon Valley monetary pioneers. This summit took place one year after the SVB banking crisis. This one-day summit highlights an insider’s viewpoint on the SVB emergency and sparked discussions amongst like-minded individuals.
During the ‘The Future of Banking’ discussion, Long spoke alongside Everett Cook (Rho), Stephane Lintner (Jiko), and Moderated by Deirdre Bosa (CNBC). While the core topic revolved around what changes have been made since the SVB crisis, the panelists spoke of other impending topics.
For instance, the driving topic of discussion was about how blockchain and crypto can make strides to improve access to financial services. More so, how could they achieve this by partnering with banks and other traditional institutes?
Now, over a year after the SVB emergency, Rho CEO and Co-founder Everett Cook will be joined by pioneers from Jiko, HSBC, Bain Capital Wanders, Lux Capital, and Ripple. Long drew light to Ripple’s On-Demand Liquidity, which empowers cross-border exchanges utilizing Ripple’s XRP token.
One of the enormous takeaways from this discussion is that there’s currently unsustainable competition for Silicon Valley commercial managing account businesses. No one accepts that all these banks will still be competing for SVB’s commerce in five years’ time.
In response to Monica Long’s presence at the Newcomer Banking Summint, the XRP Army shares their bullish sentiment. One response in particular encourages all banks to partner with Ripple so more people across the world can access trusted financial services.
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