Former Counselor to the Secretary at the U.S. Treasury Department will provide depth to Ripple’s policy leadership bench
SAN FRANCISCO–(BUSINESS WIRE)–Ripple, a provider of leading enterprise blockchain solutions for global payments, today announced Craig Phillips has been appointed to its board of directors. Craig will provide counsel to Ripple’s leadership team and advise on strategic regulatory opportunities as Ripple expands its global network.
“Craig’s appointment to the board further affirms our commitment to working with policymakers – bringing experience developing regulatory frameworks, enhancing cybersecurity and overseeing innovation and risk management in the financial system,” said Brad Garlinghouse, Ripple CEO. “This is an exciting time for Ripple as the blockchain industry at-large faces increased attention from regulatory bodies around the world, and we couldn’t be more thrilled with Craig’s decision to help further our vision.”
Craig brings more than 35 years of industry expertise to Ripple, having held leadership roles at Morgan Stanley and BlackRock. Most recently, Craig served as Counselor to Secretary of the Treasury Steven Mnuchin, where he oversaw regulatory framework development for the financial system under Executive Order 13772 as well as efforts to enhance the financial sector’s cybersecurity through the Office of Critical Infrastructure Protection and Compliance Policy. He also supported the development of policy for housing finance reform.
“I am pleased to join the Ripple board at this critical juncture in the company’s history as it uses blockchain technology to improve the speed, reliability and costs of cross-border payments between financial institutions,” said Craig Phillips. “Participating alongside the distinguished group of current directors, senior advisors and the Ripple management team is a unique opportunity that allows me to leverage my interest in this important technology and innovation.”
Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network (RippleNet), financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. With offices in San Francisco, New York, London, Mumbai, Singapore, Sao Paulo, Reykjavík, Dubai and Sydney, Ripple has more than 200 customers around the world.