This is great for Ripple
Santander was on R3 team left the group then.....
What do they know? Why would they leave R3 then with in months launch Ripple hemmmmmm.
are you talking about this?
'Off the table'
To create some long-term stability and ease those concerns, Ripple announced a plan last week for the structured sale and use of its currency. By the end of 2017, the company will put 55 billion of its XRP into escrow and will unleash up to 1 billion into the market every month. Thus, investors will have some sense of what's coming.
"We decided to take the issue off the table," Ripple CEO Brad Garlinghouse said in an interview. "We wanted to make sure we were combating any uncertainty about supply."
Garlinghouse is a well-known name in Silicon Valley. He had senior executive roles at Yahoo and AOL and was CEO of Hightail (formerly YouSendIt) from 2012 to 2014. He joined Ripple in 2015, and earlier this year took over the CEO role from founder Chris Larsen, a serial entrepreneur, who previously started online lender Prosper.
Garlinghouse likened Ripple's situation to Yahoo, which derives almost all of its current value from its large stake in China's Alibaba. (Yahoo's core business is being sold to Verizon and the Alibaba stake is being spun out into a new holding company called Altaba.)
The analogy only goes so far, as equity investors haven't ascribed a big multibillion dollar valuation to Ripple. The company last raised money in September, when the XRP currency was worth a tiny fraction of its current price.
This is the news I heard.