Earlier this Tuesday, Ripple CEO Brad Garlinghouse Offered a “big welcome” to Standard Custody CEO Jack McDonald after the latter joined the company as senior vice president (SVP) of stablecoins.
Earlier this Tuesday, Ripple CEO Brad Garlinghouse Offered a “big welcome” to Standard Custody CEO Jack McDonald after the latter joined the company as senior vice president (SVP) of stablecoins.
Garlinghouse noted that McDonald was no stranger to the XRPL ecosystem or to him personally, adding that he is “delighted” to have him on his team.
McDonald has more than three decades of experience in the financial sector. In 2000 he became CEO of the investment bank UBS. In 2014, McDonald became president and CEO of Conifer Financial Services.
Alex DovbnyaHe also heads PolySign, a financial technology company established by Ripple’s Arthur Britto and David Schwartz. Standard Custody, a digital asset custodian, is a subsidiary of PolySign.
As reported by U.Today, Ripple announced its plan to acquire Standard Custody in February to expand its portfolio of regulatory licenses. The deal came less than a year after it bought Swiss-based cryptocurrency custody company Metaco for $250 million.
Alex DovbnyaIn January, the company also sleepless its plan to enter the highly saturated stablecoin market with its own dollar-backed cryptocurrency that will initially run on XRP Ledger and Ethereum. As Guru-Investingreported, Ripple president Monica Long recently predicted that the stablecoin project would go live this year.
Ripple has already closed the Standard Custody deal, according to its announcement on Tuesday. McDonald, who has been named senior vice president of stablecoins at the company, will also continue to serve as CEO of Standard Custody.
The company’s strong financial position potentially allows it to continue its strong acquisition spree, according to a recent blog post.
