Interoperability: The Key to Blockchain's Success in Finserv

Speaking to FinTech Magazine from Money20/20 this June, Ripple UK and Europe Managing Director Cassie Craddock has been in the blockchain industry for many years. 

In that time, one thing has stood out for her - interoperability, and the seamless integration between different systems to ensure the success of blockchain technology. 

Interoperability: The key to blockchain’s success

"Interoperability is going to play a really key and pivotal role in the success of blockchain," Cassie states. This means that newly developed blockchain products and services must communicate effectively with one another to avoid fragmented liquidity.

Cassie also stresses the importance of regulatory alignment, stating: "We want to make sure that regulators around the world are communicating with each other so that we are not creating regulation in silos." This approach aims to create a cohesive global blockchain and digital asset adoption framework.

Ripple's focus on interoperability stems from its commitment to meeting customer needs. "We know that our customers want to be able to send cross-border payments fast, cheap, and with certainty," Cassie explains. 

Ripple: Providing a seamless customer experience 

The company's goal is to combine traditional systems with blockchain technology to provide a seamless customer experience.

Over its 12-year history, Ripple has evolved from a payment product provider to a comprehensive platform for digital asset businesses. The company's initial cross-border payment product leverages XRP and the XRP Ledger, offering a single API for financial and fintech companies to facilitate instant cross-border payments.

Ripple's recent expansion includes the acquisition of Metaco for US$250m, signalling a move into custody services. "Custody is a really key piece of infrastructure when you want to build on digital assets," says Cassie. 

Elsewhere, the company is venturing into tokenisation and liquidity services to provide an end-to-end lifecycle for digital asset businesses.

Cassie revealed that major banks like HSBC and SocGen are considering tokenisation as a core part of their growth strategies, indicating a growing interest in blockchain-based solutions among traditional financial institutions.

Ripple's growth is particularly focused on Europe, with plans to open a new office in Geneva, Switzerland. This expansion is partly driven by the regulatory clarity provided by the Markets in Crypto-Assets (MiCA) framework in Europe.

Looking ahead, Cassie says the aim is to make sure “customer-centricity is the heart of everything we do”.

From Ripple to Women's Premier League

For Cassie, Ripple is only one half of a career. She is also a former Women's Premier League player for Ipswich Town, and credits Ripple for giving her the flexibility to thrive in both the blockchain space and as a footballer.

“I'm very fortunate that I worked for an employer that really took my work-life balance seriously,” she says. 

“Some of the skills you learn early on in football in terms of creating teams and cultures and being competitive in nature – those are great transferable skills that can help in any leadership journey.”

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