Ripple Secures Two Veterans to Steer its Cross-Border Payments Ambitions

Ripple has strengthened its executive team with two new appointments today, securing Benjamin Lawsky to its board in tandem with Ron Will as its CFO. The additions will play key roles in helping steer Ripple’s cross-border Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term ambitions, which have been gaining momentum throughout 2017.

Both Mr. Lawsky and Mr. Will represent some of Ripple’s most senior hires to date. Lawsky is a former New York superintendent of Financial Services, boasting two decades of experience across key governmental levels. He steps into the role with an impressive resume, having helped design BitLicense, the state’s regulation for digital asset business operations.

“Ripple is the leading enterprise Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term company in the world today and is one that truly understands the importance of regulation-enabled innovation. The company and its leadership are passionate about making our global financial system more efficient, more secure and more fair,” explained Mr. Lawsky.

His addition helps shore up Ripple’s regulatory focus, given his expertise at both state and federal levels. He has a strong familiarity with US-chartered banks and branches and will be a tremendous asset moving forward as Ripple’s real-time gross settlement system continues to expand.

“I share those same goals and am thrilled and humbled to work side by side with their incredible team as they continue to pave the way for the growth and accelerating adoption of blockchain and digital assets in the years ahead,” he added. In his new role at Ripple, Mr. Lawsky will be serving on the group’s executive Board.

Ron Will will step into the role of Chief Financial Officer (CFO) at Ripple. As a veteran of the banking sector, he has over three decades of experience as a senior financial executive and investment banker. Most recently, he worked as the CFO of TubeMogul, helping oversee its acquisition by Adobe this past year.

According to Mr. Will: “Throughout my career, I’ve been most excited when working with hyper-growth companies, and as Ripple keeps bringing on customers like American Express and over 100 other financial institutions, it’s clear that this is one of those rare opportunities.”

“Ben deeply understands the nuances of both digital assets and financial regulation, and I’ve seen Ron’s tenacity and ability to scale and execute like none other while we both worked at Yahoo!. Both Ben and Ron’s skillsets will be instrumental as we look to capitalize on the interest and opportunity around blockchain, XRP and the impact they will have on payments in 2018 and beyond,” reiterated Ripple’s CEO Brad Garlinghouse.