Rosa Gumataotao Rios, the 43rd Treasurer of the United States, will join Ripple’s board of directors.
In an announcement from Ripple today, the company said that Rios, who served as US Treasurer from 2009 to 2016 under President Barack Obama, would be the last member of the company’s management team. Ripple CEO Brad Garlinghouse cited Rios’ experience in both the public and private sectors as well as his success in “fast-growing businesses” in the company’s decision to involve her.
“Ripple is one of the best examples of using cryptocurrency in a substantial and legitimate role to facilitate payments on a global scale,” said Rios. “Blockchain and crypto will support our future global financial systems.”
Rios’s name seems more closely associated with fiat than with crypto, literally – every American banknote printed during her time as treasurer bears her signature. His appointment follows Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, stepping down from the board after two years and being replaced by Adam Traidman, CEO of SBI Ripple Asia.
Ripple also announced that Kristina Campbell, formerly with fintech firm GreenDot’s PayNearMe payment platform, will join the company as CFO to “accelerate growth and deliver shareholder value.” Campbell said she aimed to use crypto and blockchain technology to “make the global financial system accessible to all.”
The new leadership follows cryptocurrency XRP losing for the first time its position as the fourth cryptocurrency by market capitalization to Dogecoin (DOGE). XRP only regained fourth place in April after Polkadot’s DOT and Binance Coin (BNB) rallies, as well as token price volatility.
The volatility of XRP was attributed to charges by the United States Securities and Exchange Commission against Ripple, company co-founder Chris Larsen, and Garlinghouse in December 2020. The SEC accuses Ripple of making an “offer of Unregistered and Continuing Digital Asset Securities ”through its XRP Sales. Although the allegations initially prompted many crypto exchanges to withdraw or suspend trading in XRP, some have since put the token back on sale following a campaign by its supporters.