188 Interactions, 2 today
“Blockchain and cryptocurrency will underpin our future global financial systems,” the new board member said.
Rosa Gumataotao Rios, the 43rd United States Treasurer, will join Ripple’s board of directors.
In an announcement from Ripple today, the company said Rios, who served as the U.S. treasurer from 2009 to 2016 under President Barack Obama, will be the newest member of the firm’s leadership team. Ripple CEO Brad Garlinghouse cited Rios’ experience in both the public and private sectors as well as her success in “rapidly accelerating businesses” in the company’s decision to bring her on board.
“Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally,” said Rios. “Blockchain and crypto will underpin our future global financial systems.”
Rios’ name seems more closely associated with fiat than crypto, quite literally — all U.S. banknotes printed during her time as treasurer bear her signature. Her appointment follows Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, leaving the board after two years and being replaced by SBI Ripple Asia CEO Adam Traidman.
Ripple also revealed Kristina Campbell, formerly of fintech company GreenDot and payments site PayNearMe, will join the company as chief financial officer to “accelerate growth and deliver value to shareholders.” Campbell said that her goal was to use cryptocurrency and blockchain technologies to “make the global financial system accessible to all.”
The new leadership comes after the XRP cryptocurrency, for the first time, lost its spot as the fourth-largest cryptocurrency by market capitalisation to Dogecoin (DOGE). Following rallies from Polkadot’s DOT and Binance Coin (BNB), as well as fluctuations in the token price, XRP only reclaimed the fourth spot in April.
The volatility of XRP has been traced to complaints filed by the US Securities and Exchange Commission in December 2020 against Ripple, the firm’s co-founder Chris Larsen, and Garlinghouse. Via its XRP transactions, Ripple is accused by the SEC of pursuing a “unregistered, ongoing digital asset securities offering” While the accusations initially caused several crypto exchanges to delist or suspend trade in XRP, others have since relisted the token in response to a campaign by its backers.