U.S. Treasurer to Join Ripple’s Board

May 5, 2021 by Editor

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Rosa Rios and Kristina Campbell have been named to Ripple’s leadership team. Rios, the 43rd Treasurer of the United States, will join the Board of Directors. Apart from its affiliation with XRP, RippleNet is used by several conventional banks for payments, and its On-Demand Liquidity solution, which uses XRP, is used by several money transfer

Rosa Rios and Kristina Campbell have been named to Ripple’s leadership team. Rios, the 43rd Treasurer of the United States, will join the Board of Directors.

Apart from its affiliation with XRP, RippleNet is used by several conventional banks for payments, and its On-Demand Liquidity solution, which uses XRP, is used by several money transfer companies.

The nomination of a former regulator comes as Ripple fights the Securities and Exchange Commission in court (SEC).

According to the SEC, Ripple and its CEO and Chairman are accused of conducting an unregistered securities offering for the XRP cryptocurrency.

“Rosie’s background in public and private sectors provides an invaluable perspective to Ripple, particularly during this period as the industry works to define crypto’s future,” said Ripple CEO Brad Garlinghouse.

Ripple had previously expressed dissatisfaction with the United States’ regulatory uncertainty surrounding cryptocurrencies, threatening to move its headquarters to a more blockchain-friendly nation.

Apart from Rios, the company also added Sandie O’Connor, a former JP Morgan Chief of Regulatory Affairs Officer who joined Ripple’s board of directors at the end of last year.

The SEC lawsuit was filed shortly before former SEC chair Jay Clayton stepped down. Many in the XRP ecosystem hope that the new SEC Chair, Gary Gensler, will provide some relief.

Although Gensler is likely to provide greater clarification and assurance regarding cryptocurrencies, it is unclear if this would benefit Ripple.

Rios said, “Blockchain and digital assets will underpin our future global financial structures.” “Cryptocurrency is what it’s all about. The show is Ripple.”

Kristina Campbell, the other new hire, will be the Chief Financial Officer. She previously worked as the finance director for Green Dot and PayNearMe, two fintech companies.

Meanwhile, Ripple opened a line of credit to help commercial payment providers purchase XRP for use in its On-Demand Liquidity solution. And it recently purchased a 40% stake in Tranglo to extend the solution in Asia.