Brooks Entwistle, SVP of Global Customer Success and the Managing Director for APAC & MENA at Ripple, talked about “crypto winter” on day two of the week-long 2022 Aspen Ideas Festival (AIF) being held in Aspen, Colorado.

Before joining Ripple in March 2021, Entwistle “served as Chief Business Officer International for Uber, responsible for business development and the firm’s relationships across Asia Pacific, EMEA and Latin America.”

His comments were made at an AIF panel, highlights of which were featured on CNBC’s “Crypto World” show.

Entwistle said:

It has been a very difficult couple of months across the sector, and that’s obviously not just in the U.S., but from a global perspective, as well… One of the things that the Brian [Brooks] and I both talk about is this is not the first time this has happened in this industry.

This has been a reasonably regular occurrence over the life of digital assets and crypto the last decade plus. And one of the elements that I think we’ve learnt over time is that winter time is actually a fabulous time to build businesses and to really define use cases for digital assets and crypto. And I think in some ways take a little bit of the fluff out and some of the business models that may not have a long-term nature to them as well.

So it is deep. We’re not in the consumer-facing trading business. So, we’re not in the business of making calls on one coin versus the other. I’m certainly not going to do that today but we do gather here at a very interesting time and pivot point for the industry.

In March, during an interview with TokenPost, Entwistle talked about Ripple. Here are a few highlights:

  • We are growing fast at Ripple, with APAC being one of the fastest growing regions for RippleNet where transactions have increased 130% year-over-year.
  • Amid growing demand for instant settlements and immediate access to capital, the uptake of RippleNet’s On-Demand Liquidity (ODL) service in the APAC & MENA regions is likely to continue accelerating in 2022.
  • Using blockchain technology, RippleNet addresses the challenges of speed and cost in cross-border payments, offering settlements within 20 seconds, a failure rate that is near-zero, and fees that are 90% less per transaction than the status quo.
  • We’re committed to enriching the fintech payment landscape and are deepening our footprint across the APAC region. Just last year, we expanded the RippleNet network with new regional customers, including South Korea’s GME Remittance, and also unveiled a new solution – Liquidity Hub — which will enable enterprises to easily and efficiently source any digital assets from the broader crypto market.