Ripple Labs has appointed Dilip Rao as Managing Director of its new Ripple Labs Asia Pacific subsidiary.
According to the company, the new office was established in response to growing demand for Ripple’s real-time settlement protocol in the region, and to more directly connect interested Ripple Labs partners in the United States and Europe with Asian Pacific markets.
Ripple Labs CEO and co-founder Chris Larsen:
We are excited to formally unveil a presence in Asia Pacific — an area that has been aggressively pursuing faster payment technologies for both domestic and cross-border payments. Dilip is a natural fit to lead this office because of his years of experience in the space and his deep, engaged network in the region.
The first office for Ripple Labs Asia Pacific is based in Sydney, Australia, and is actively recruiting integration engineers, architects and other key hires. Ripple Lab Asia Pacific demonstrates the company’s commitment to the emerging and dynamic market, and its regional mandate will include Australia, New Zealand, Japan, China and other countries in Southeast Asia and the Middle East.
Dilip Rao will lead business development and operations for Ripple Labs Asia Pacific and engage with leading banks, regulators and central banks in support of Ripple’s adoption.
Rao has more than 25 years of experience in senior management with technology multinationals in technical, sales and marketing roles in Asia. He has consulted to major banks and corporates in Australia on innovation and was the founder of Australia’s first person-to-person payments startup.
Rao holds degrees in Physics and Electrical Engineering and an MBA from the Indian Institute of Management, Ahmedabad, India.
I am thrilled to bring Ripple Labs to Sydney, where we can more effectively serve eager markets in India, Singapore, the Middle East and across APAC. Banks and enterprises can leverage Ripple to more efficiently service the exploding trade and remittance flows in this region.
Ripple Labs supports the adoption of Ripple, a settlement protocol that enables the world’s disparate financial networks to securely transfer funds in any currency in real time. The San Francisco-based startup is funded by Google Ventures, Andreessen Horowitz, IDG Capital Partners, Core Innovation Capital, FF Angel, Lightspeed Venture Partners, Bitcoin Opportunity Corp. and Vast Ventures.