Ripple Adds Ex-BoA and Blockchain Exec as Head of Regulatory Affairs, MoneyGram Upset With XRP's Pace?

Ripple blockchain company welcomes Benjamin Melnicki, former Bank of America and Blockchain Wallet executive, to head up the Americas Head of Regulatory Affairs for the XRP firm.

Ripple onboards Benjamin Melnicki, former Bank of America Executive, to serve as the firm’s Head of Regulatory Affairs reports U Today. Melnicki will be tasked with communicating with the U.S. Securities and Exchange Committee on the firm’s behalf.

The decision to go with Melnicki appears to rest solely in his past experiences, as he has previously served with the Global Regulatory Council at Blockchain crypto wallet provider, was the Chief Compliance Officer for Noble Bank International and held a number of other positions that required him to deal with regulatory concerns.

Melnicki has since expressed excitement in joining the Ripple team, adding that he is looking forward to “working with policy makers and regulators to make an impact on the industry.”

In addition to the welcoming of Melnicki comes an interesting surprise from MoneyGram. According to the claims made, the CEO of Ripple, Brad Garlinghouse received a call from the Head of MoneyGram, where the CEO, Alex Holmes expressed that they were displeased with the pace at which Ripple was growing. Furthermore, Ripple was questioned as to whether they were planning to launch “On-Demand Liquidity” across more markets.

The push coming from MoneyGram doesn’t come of surprise, considering the fact that the duo has since partnered in an effort to promote cross-border payment and foreign exchange settlement using digital assets. As previously shared by the Ripple team, their role in the partnership is to focus on their solution for on-demand liquidity, i.e. xRapid.

Holmes was previously referenced stating that this partnership will help them,

“instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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