Rosa Humatuta Rios, 43rd Secretary of State, joins Ripple’s board.

In a statement today, Ripple said that Rios, who served as US treasurer from 2009 to 2016 under President Barack Obama, would be the newest member of the company’s management. Ripple’s CEO, Brad Garlinghouse, cited Rios’ experience in both the public and private sectors, as well as her “thriving business” success in the company’s decision to hire her.

“Ripple is one of the best examples of how cryptocurrency can be used in a fundamental and legitimate role to facilitate payments worldwide,” Ripple said. “Blockchain and cryptocurrencies will be the backbone of our future global financial systems.”

The name Rios seems to be more closely related to fiat currency than crypto, literally – all printed American banknotes during their term as treasurer have their signature. Her contract came after Yoshitaka Kitao, CEO of the Japanese giant SBI, who left the board two years later and was replaced by Adam Treadman, CEO of SBI Ripple Asia.

Ripple also announced that Christina Campbell, who previously worked with PayNearMe in GreenDot FinTech, will join the company as CFO to “accelerate growth and benefit shareholders”. Campbell said she is committed to using crypto and blockchain technologies “to make the global financial system accessible to all.”

The new management comes on the heels of XRP, which is losing its place as the fourth largest cryptocurrency by market value for the first time compared to Dogecoin (DOGE). XRP regained only fourth place in April after a spike from DOT and Binance Coin (BNB) to Bulcadot, as well as volatility in token prices.

XRP’s volatility stems from allegations by the US Securities and Exchange Commission against Ripple, co-founder Chris Larsen and Garlinghouse, in December 2020. The US Securities and Exchange Commission accuses Ripple of carrying out an “unregistered continuous exposure to digital assets”. XRP sales. While the allegations initially prompted many cryptocurrency exchanges to exclude or suspend trading in XRP, some have since reintroduced the token following a campaign by supporters.