Rosa Gumataotao Rios, the 43rd U.S. treasurer, will join Ripple’s board of directors.
In a Ripple announcement today, the company said Rius, who served as US treasurer. UU. From 2009-2016 under the presidency of Barack Obama, he will be the newest member of the firm’s leadership team. Ripple CEO Brad Garlinghouse cited Rius ’experience in both the public and private sectors, as well as his success in“ fast-paced business ”in the company’s decision to incorporate it.
“Ripple is one of the best examples of how to use digital currency in a substantial and legitimate role to facilitate payments globally,” Rius said. “Blockchain and digital currency will support our future global financial systems.”
Rius’ name seems to be more associated with fiat money than with digital currency, literally: all American banknotes printed during his time as treasurer bear his signature. His appointment follows Yoshitaka Kitao, executive director of Japanese financial giant SBI Group, who leaves the board after two years and is replaced by SBI Ripple Asia CEO Adam Traidman.
Ripple also announced that Kristina Campbell, who previously worked on the payment platform PayNearMe at financial technology company GreenDot, will join the firm as chief financial officer to “accelerate growth and deliver value to shareholders”. Campbell said his goal was to use encryption and blockchain technology to “make the global financial system accessible to everyone.”
The new leadership follows the XRP digital currency losing its position as the fourth largest digital currency by market capitalization against Dogecoin (Doge) for the first time. XRP only regained the number four spot in April after Polkadot’s DOT and Binance Coin (BNB) rises, as well as token price volatility.
XRP’s volatility has been attributed to charges filed by the US Stock Exchange and Securities Commission. UU. Against Ripple, the company’s co-founder Chris Larsen and Garlinghouse in December 2020. The SEC accuses Ripple of making an “ongoing unregistered digital asset securities offering” through its XRP Sales. While the allegations initially led to many encryption exchanges to eliminate or suspend XRP trading, some have put the testimony back on sale after a campaign by their supporters.