Former Sr Vice President and General Manager Monica

The cryptocurrency company Ripple has announced a new President.

The payment company has announced that former Senior Vice President and General Manager Monica Long has been promoted to the role.

Long has been with Ripple for nine years. She joined the company in 2013. Also, the press release that came out officially, talked about Long's contributions to the Ripple ecosystem, such as the launch of the On-Demand Liquidity (ODL), which is used in 40 countries on different continents.

Ripple put out a press release today saying that former executive Monica Long has been made President. In the release, it says that the company is having its "strongest year yet," and it says that Long's work is a big part of that.

In the press release, it says that Long is "one of the driving forces behind why we have been as successful as we are today despite multiple crypto winters and headwinds in the industry." She also said that she joined the company when there were only 10 people working there.

In the statement, Ripple CEO Brad Garlinghouse called Long, "One of the most respected leaders in the industry." Adding, "Even though the crypto market is hard right now, Monica has helped lead Ripple to a very unique place of growth and financial strength."

"At a time when crypto was hardly a blip on the radar, she was in the trenches establishing Ripple as a responsible leader in the crypto industry," the statement said. Noting her part in "earning the trust of financial institutions globally." Long said she was excited to become President and that she planned to lead the company "deeper into crypto-enabled services like liquidity, settlement, and custody."