- Raghuram Rajan, former Governor of the Reserve Bank of India, to its RLUSD stablecoin advisory board.
- Ripple’s advisory board for RLUSD includes prominent figures, such as Sheila Bair, former FDIC Chair, David Puth, former CENTRE Consortium CEO, and Ripple co-founder Chris Larsen.
Ripple recently announced that former RBI governor Raghuram Rajan has joined the RLUSD stablecoin advisory board alongside Chris Larsen. Rajan will provide guidance regarding the regulations and financial and operational aspects that will help the stablecoin grow sustainably.
Other board members include Kenneth Montgomery, the former Chief Operating Officer of the Federal Reserve Bank of Boston. These appointments aim to continue Ripple’s approach of compliance with the legal authorities and enhancement of confidence in digital financial systems.
Why Ripple’s RLUSD Stablecoin is Poised for Sustainable Growth
This is because most observers view Rajan’s appointment as a major development in Ripple’s RLUSD stablecoin. This means that RLUSD should be lucky to have a person with extensive experience in central banking and financial regulation, as well as the regulation of the financial markets, at this peculiar time of rapid change in the world’s financial sector. To this end, Ripple is keen to ensure that its stablecoin is always a secure, plausible, and efficient method of payment.
Montgomery, who has a long experience in the American financial system, laid out the key points of the work of RLUSD: compliance, reliability, and trust. His knowledge will prevent Ripple from suffering regulatory setbacks while expanding its place in the payments industry of the future.
Rajan’s Call for Responsible Digital Currency Adoption
Though Rajan has expressed concern about cryptocurrencies in the past, he understands how they can improve international payments. He has also expressed fears about how crypto is volatile and mostly investible, as opposed to fiat currencies.
In his 2023 interview, Rajan warned that the public should not get distracted by price speculation on blockchain tech. Other events, such as FTX, also underlined the need for trust and credibility of digital assets/ currencies, which RLUSD seeks to promote.
The Role of Ripple’s Advisory Team in Navigating Regulatory Challenges
Other members of the RLUSD advisory board include Sheila Bair, the former FDIC chair; David Puth, the former CEO of the CENTRE consortium; and Chris Larsen, the Ripple co-founder. With this formidable team, we have experience in banking, regulatory, and digital finance.
RLUSD, the stablecoin originating from Ripple, must meet rigorous rules to be stable. I compellingly tailored the message based on these criteria, adding Rajan and Montgomery to strengthen Ripple’s efforts to promote RLUSD as a credible digital payment media.
