US Secretary of Commerce Appoints R3 Blockchain FinTech to Trade Finance Advisory Council

The U.S. Secretary of Commerce Wilbur Ross announced the appointment of 21 new members to the Trade Finance Advisory Council (TFAC).

One of these new members is R3, that will be represented by Alisa DiCaprio, Head, Trade and Supply Chain at the company. R3 is a blockchain company that leads a consortium of more than 200 firms in the distributed ledger technology (DLT) field.

R3 Becomes a Member of the US Trade Finance Advisory

In a recent press release uploaded by the International Trade Administration, they inform that Mr. Ross appointed 21 new members to the TFAC.

This is the principal advisory body to the Secretary of Commerce in terms of trade finance. Secretary Ross commented about it:

“The ready availability of trade finance is a crucial ingredient to the success of U.S. exporters across virtually every economic sector. The TFAC provides industry stakeholders with a critical voice in government, allowing the Department to better assist American exporters.”

Some of the companies present are Mastercard, First American Bank, John Deere, City National Bank, among others. Alisa DiCaprio will be representing the blockchain company R3.

The TFAC has provided detailed policy and technical recommendations that enhance private official financing options for companies in the United States.

Users on Twitter started to make reference to the digital asset XRP. Ripple is working with the R3 Consortium to offer services to clients around the world. The R3 Corda platform and its settlement layer support the XRP cryptocurrency.

Thus, the presence of Alisa DiCaprio and R3 on the TFAC could eventually potentiate Ripple’s growth. Although most of the digital assets operated negatively, XRP is registering a price increase of 1.05%. Meanwhile, Bitcoin (BTC) is falling 0.25% in the last 24 hours.

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