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 expertise to [their] team, and he is eager to help [them] continue to be the global leader in distributed payments technology.”
The Californian startup, which has become one of the most active voices of the digital currency community in recent times, continues to push its homemade payment exchange network — Ripple — in the conscience of traditional banking and financial institutions. Its idea of innovating the international remittance market has been applauded by many Wall Street bankers, a factor that further pushed its name into the 50 Smartest Companies, complied by MIT Technology Review.
No wonder a veteran like Donal Donahue has agreed to be the part of this disruptive company. In his official quote for the Ripple Labs blogpost, the payment security expert acknowledged his beliefs in the potential of distributed payment technologies.
“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,” he remarked. “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.”
If reports are to be believed, Donahue will be assisting Ripple Labs on their upcoming bustiness-to-business settlement models. He meanwhile will continue to head his own New York-based startup — Miranda Partners, LLC.