Ripple Labs adds finance veteran to its roster

Ripple Labs has announced a new addition to its advisory board, with Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (DTCC), joining the company to offer security and financial expertise.

Ripple have gained an advisor who is used to working under extreme circumstances. Now the president and CEO of Miranda Partners, Donahue used to head financial services group DTCC and played a pivotal part in alleviating the pressure on the company during the 2008 financial crisis.

‘‘I’m very interested in the capabilities distributed payment technologies seem to offer for improving the safety, soundness and cost effectiveness of global payments and settlement infrastructures,’’ said Donald Donahue, new advisor to Ripple Labs.

Donahue actually retired from DTCC in 2012 but clearly still has a lot to give.

‘‘Ripple is already a clear leader in this space; I’m looking forward to working with the Ripple Labs team to deliver on these exciting possibilities,’’ continued Donahue.

Ripple has been busy recently as it attempts to expand internationally. Last month, Payment Eye reported that the payment technology firm gained $28m in a Series A funding round in an effort to ‘‘modernize decades-old payments infrastructure with IP-based technology.’’

‘‘I am excited to welcome Don to the Ripple Labs team. He has spent an entire career building, assessing and safeguarding the country’s financial technology infrastructure. His insights will be invaluable as we continue to expand adoption of Ripple as payments infrastructure technology by financial institutions around the world,’’ commented Chris Larsen, CEO and co-founder of Ripple Labs.

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