Ripple’s UK Managing Director reveals licensing bid post-SEC triumph, reaffirms global growth amid regulatory challenges.
In a significant move for Ripple, the company’s Managing Director for UK & Europe, Sendi Young, revealed in an exclusive interview that they have recently applied for registration as a crypto asset firm with the UK’s Financial Conduct Authority (FCA) and simultaneously, a payment institution license in Ireland.
This strategic decision came after the recent lawsuit triumph against the US Securities and Exchange Commission (SEC), which Young believes will further fuel the company’s growth in the US.
Recall that The Crypto Basic reported last November that Ripple published a policy document to help the UK navigate crypto regulations. Additionally, The Crypto Basic recently disclosed a 2022 document highlighting Ripple’s engagement with the UK government on crypto adoption.
Ripple Continues Seeking UK Talents
Despite the regulatory developments in the US, Young emphasized that Ripple’s growth plans in the UK and Europe remain intact.
“We haven’t turned around and said, ‘Let’s stop hiring in the UK.’ Our strategy and growth plans are intact and in place,” Â she remarked.
While refrained from providing specific numerical targets, the Ripple UK managing director confirmed that Ripple is actively hiring for various essential roles in the UK and Europe.
Meanwhile, Young confirmed that Ripple’s global hub remains in the United States despite the ongoing regulatory challenges. Yet, most of the company’s expansion has occurred outside the country in the past two years. She expressed confidence that the US will now pick up and grow significantly.
Young reiterated Ripple’s global presence, boasting over 15 offices worldwide, and explained that their investments were made strategically even before the SEC filed the lawsuit. Notably, Ripple delivers innovative crypto solutions across over 50 countries, including Asia Pacific (APAC) and Europe, Middle East, and Africa (EMEA).
Regarding the SEC’s recent crackdown on crypto firms, Young voiced her concerns about regulation by enforcement, deeming it an unproductive and discouraging approach to fostering innovation and attracting investment.
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