Former CEO of Depository Trust & Clearing Corporation Joins Ripple Labs as Advisor
Ripple Labs, the creators and developers of the Ripple network, have appointed Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (DTCC), as an adviser. The new addition to the advisory board comes amid the digital currency startup's efforts to push adoption of the Ripple payment network onto banks and financial institutions. DTCC....
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Digital currency startup Ripple Labs has appointed Donald Donahue, former CEO of the Depository Trust & Clearing Corporation (DTCC) as an advisor to the company. DTCC is the main clearing house for US securities and derivatives, processing more than $1.6 quadrillion in transactions per year. In his role as COO and then CEO, Donahue is thought to have led the DTCC's efforts in stabilising the financial system following the 2007-08 market crash. Donahue said in a company statement:
Ripple Labs recently announced the inclusion of Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (CDCC), into their long list of advisors. Like every time, the payment protocol company is hoping to bring a wealth of knowledge to its cross border transaction services. Donahue, who is nothing short of a veteran when it comes to settling vast amount of security transactions, promises to provide just the same to this emerging next-generation firm. As Ripple Labs acknowledges, "Donahue brings deep financial services infrastructure technology knowledge and security....
In the past few months, the underlying blockchain technology has been garnering increased interest from both bitcoin enthusiasts and large institutions. Some governments and companies have even tapped into the blockchain's features as a means to create secure databases or to keep track of intellectual property rights. Financial institutions have also started looking into the capabilities of blockchain technology in an attempt to improve their internal operations. Banks in Australia such as Westpac are working with Ripple Labs while Singapore's central bank is reportedly studying bitcoin....
The recent delisting and subsequent relisting of BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) by the Depository Trust and Clearing Corporation (DTCC) has caused a stir in the cryptocurrency market. The sudden removal of the ETF from the DTCC’s listings on Tuesday, coupled with the temporary unavailability of the DTCC website, led to a significant […]
Image via Stanford University. San Francisco-based Ripple Labs, the startup behind the digital payment network Ripple, has appointed a former US State Department official as an advisor. Speaking about her new role, Anja Manuel said she was excited to build on Ripple's "impressive momentum" and looking forward to help it gain international traction. "Ripple is uniquely designed to lower both the costs and risks inherent to domestic and cross-border payment systems," she added. The former US State Department official said: "It has the potential to expand the global economy through increased....