Crypto Market News: US based crypto solutions provider Ripple on Friday announced a new entrant to its Board Of Directors. As the company behind popular cryptocurrency XRP, Ripple is currently in the spotlight as the crypto market participants await summary judgement in the U.S. Securities and Exchange Commission (SEC) lawsuit. Yet, if the company comes out victorious in the lawsuit, it could have a distinct advantage of having fought the regulators very early in the crypto adoption phase.
With the SEC filing a complaint against Ripple over unregulated sale of XRP as securities, the company has been in the legal tussle since December 2020. However, the company enjoys strong support from the XRP token holder community as it still enjoys a top 10 ranking among cryptocurrencies based on market cap.
Warren Jenson Joins Ripple
The company announced that the former Amazon chief financial officer Warren Jenson will join its Board of Directors. Despite the uncertainty around the SEC lawsuit, the company has been moving forward with its product launches and expansions in the crypto solutions space. The company made the announcement in a statement:
Earlier, CoinGape reported that the company had unveiled the Ripple CBDC Platform as an end-to-end solution for governments, central banks, and financial institutions to issue their own central bank digital currencies (CBDCs). It had partnered with the Hong Kong Monetary Authority (HKMA) for the launch of the e-HKD Pilot Programme.
