Ripple Labs appoints former US Treasury official as advisor

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Ripple Labs, a payments technology company and supporter of the Ripple protocol, has named Michael S. Barr, former official at the US Department of the Treasury and a senior fellow at the Center for American Progress and at the Brookings Institution, as an advisor to the company.

The appointment makes Barr the third person to join Ripple Labs who has also worked in the Obama administration after former National Economic Council Director Gene Sperling and former State Department official Anja Manuel.

“I’m excited to be joining the Advisory Board of Ripple Labs. Our global payments system is badly outdated. I think innovation in payments can help make the financial system safer, reduce cost, and improve access and efficiency for consumers and businesses alike,” said Barr.

Barr is the Roy F. and Jean Humphrey Proffitt Professor of Law at the University of Michigan Law School, Professor of Public Policy at the Gerald R. Ford School of Public Policy, Faculty Director of the Center on Finance, Law and Policy, and a Senior Fellow at the Center for American Progress and at the Brookings Institution.

“I am excited to welcome Michael to the Ripple Labs team,” said Ripple Labs CEO and co-founder Chris Larsen.

“He has spent his entire career in pursuit of a more equitable and efficient financial system – within government, as an academic, and with many of today’s leading financial innovators. We will lean on his insights and expertise as we continue to build Ripple into a critical piece of the world’s financial technology infrastructure.“

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