Ripple, the company behind the third largest cryptocurrency by market capitalization, recently hired Kahina Van Dyke as the new senior vice president for corporate and corporate development, according to an official statement from July 11th.
Van Dyke will be responsible for delivering strategic partnerships for international financial services to Ripple, focusing on the development of "a new global technology solution for international payments".
Van Dyke joined Ripple for "[eliminate] the friction in cross-border payments" Establishing collaborations and applying technology to change industry, "he said in the press release
To the question on what is" the question more problematic in today's payments ", Van Dyke noted the obsolete system of cross-border transactions, claiming that it is" one of the most complex and multi-faceted problems in payments. "Van Dyke said that the current global payment system, which was built almost 40 years ago, "no longer meet [s] the real-time needs of today's business."
Van Dyke stressed the need to provide businesses, as well as individuals, a way of dealing " small and large amounts of money faster and at lower costs ", stating that the system should be" more agile and transparent "than that developed for large business transactions" decades ".
Over 20 years of experience in banking and fintech, Van Dyke has held senior positions at Mastercard and Facebook. According to his LinkedIn profile, Van Dyke has served as Global Director of Financial Services and Payment Partnerships on Facebook for over two years, developing new payment solutions and financial services.
While working on Facebook, Van Dyke ran collaborations with such major companies as Citibank, PayPal, Visa, Western Union and others, providing financial solutions for more than 50 countries.
Formerly in June, Ripple's chief cryptographer David Schwartz claimed that banks would hardly deploy the underlying blockchain crypto technology to process international payments, citing problems of low scalability and privacy.
Earlier this week, a joint study by Imperial College and the UK trading platform eToro stated that cryptocurrencies like Bitcoin (BTC) have the potential to become a traditional means of payment. , in particular because of their ability to improve the cross-border payment system.