Raghuram Rajan, the former Governor of the Reserve Bank of India, has joined Ripple’s advisory board to provide strategic insights into regulatory, financial, and operational aspects of RLUSD, Ripple’s stablecoin initiative. His expertise is expected to play a critical role in ensuring the stablecoin’s reliability, compliance, and growth.
Mr. Rajan believes that stablecoins have the potential to revolutionize payments by offering secure, scalable, and efficient alternatives to traditional systems. He will contribute to shaping RLUSD’s role in the evolving financial landscape.Ripple has also welcomed Kenneth Montgomery, former Federal Reserve Bank of Boston executive, to the board.
Montgomery emphasized RLUSD’s commitment to compliance, reliability, and setting new benchmarks for trust in digital finance.While Rajan has been critical of cryptocurrencies in the past, questioning their stability and large-scale utility, he has consistently emphasized the importance of focusing on the underlying technology’s true value.
In 2023, he remarked that events like the FTX collapse underscored the need to prioritize credibility and transparency in the crypto space.
The advisory board also includes notable figures like Sheila Bair (former FDIC Chair), David Puth (former CENTRE Consortium CEO), and Ripple co-founder Chris Larsen. With their collective expertise, Ripple aims to position RLUSD as a trusted and compliant digital payment solution, setting new standards in the stablecoin ecosystem.