Ripple CEO Brad Garlinghouse announced the appointment of Jack McDonald, an experienced finance professional, as Senior Vice President of Stablecoins.
McDonald has a 30-year career in finance and served as managing director of UBS Investment Bank. He acknowledged Garlinghouse's warm welcome. Garnlinghouse expressed optimism about McDonald's potential effect, particularly given his deep understanding of the XRP Ledger.
McDonald is best known for PolySign, a renowned fintech startup, and its digital asset custodian subsidiary, Standard Custody. Ripple's latest acquisition strategy included Standard Custody, which strengthened its regulatory credentials and expanded services in the digital asset custody industry.
With Ripple's acquisitive efforts, the firm exhibits a healthy financial posture.
Furthermore, Ripple is eyeing the competitive stablecoin sector, with ambitions to establish a dollar-backed digital currency based on XRP Ledger and Ethereum. McDonald will continue to work at Standard Custody as the new Senior Vice President, demonstrating Ripple's trust in his leadership.
