Ripple (XRP), a fintech startup building a global blockchain payment network for financial institutions, has reportedly poached Amir Sarhangi, who previously led Google’s (GOOGL) new wireless messaging system, to become the company’s vice president of products.
According to a recent report by Reuters, Sarhangi will join Ripple to help lead the development of the RippleNet, a blockchain payments network of more than 100 banks and payment providers worldwide.
Prior to Google, Sarhangi founded Jibe Mobile, a startup that developed technology for wireless carriers to adopt RCS. Jibe Mobile was eventually acquired by Google in 2015, where Sarhangi took over as the head of RCS, or rich communications services.
This news comes as the company recently reported Q3 sales of XRP were more than double that of the previous quarter, indicating a growing interest among institutions looking to leverage the digital currency for transactions.
XRP is currently trading for $0.4403, giving the altcoin a $17.7 billion market cap and making it the 3rd largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.