• rippleXRP$1.58-3.07%

Ripple appoints a former U.S. treasurer to its board amid legal fight with the SEC – CNBC

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Rosie Rios, now former treasurer of the United States Department of the Treasury, speaks during the annual Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 3, 2016.”I’ve dedicated my career to financial inclusion and empowerment, which requires bringing new and innovative solutions to staid processes,” Rios said in a statement.
Ripple said Rios, the 43rd treasurer of the U.S. who served under President Barack Obama, would join its board of directors while it has also hired Kristina Campbell, previously an executive at fintech firms Green Dot and PayNearMe, as its chief financial officer.Blockchain start-up Ripple said Tuesday it had appointed former U.S. Treasurer Rosie Rios to its board, as the company battles a lawsuit from the Securities and Exchange Commission.San Francisco-based Ripple uses blockchain technology to send money across borders for banks and other financial institutions, touting its platform as a more efficient alternative to the interbank messaging network SWIFT. But it also uses XRP, a digital asset it says can act as a “bridge currency” for converting one currency to another in a matter of seconds.”Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally.”Patrick T. Fallon | Bloomberg | Getty Images

Ripple has benefited from the surging interest in digital currencies like bitcoin. It owns most of the XRP tokens in circulation and sells a tiny fraction of
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