Ex IMF Director and Bank of India Governor Appointed to Ripple Stablecoin Advisory Board
As the Ripple stablecoin, RLUSD, becomes publicly available, the company has appointed several influential figures to its advisory board.Among the most prominent names is Raghuram Rajan, a former director of the International Monetary Fund (IMF). This appointment caught the attention of the XRP community, with several commentators discussing the strategic significance of including such high-profile figures in the RLUSD project.Expertise Rajan Brings to Ripple Stablecoin Advisory BoardRajan served as the IMF's Director of Research and Chief Economist from 2003 to 2006. Later, he became the 23rd Governor of the Reserve Bank of India (RBI) from September 2013 to September 2016. While at the RBI, he also became Vice-Chairman of the Bank for International Settlements in 2015.In 2005, at the Federal Reserve's annual Jackson Hole conference, Rajan warned about the increasing risks in the financial system. While predicting a potential financial crisis, he suggested measures to mitigate these risks. Former U.S. Treasury Secretary Lawrence Summers initial dismissed his predictions, labeling them as "misguided." However, after the 20072008 financial crisis, Rajan's warnings were widely recognized as prescient.In November 2008, Rajan took on the role of honorary economic adviser in India, contributing policy notes. In August 2012, he was appointed Chief Economic Adviser to India's Ministry of Finance.Now, Raghuram Rajan is joining the RLUSD advisory board to offer expert guidance on financial, regulatory, and operational matters, helping to ensure the stability and growth of Ripple's stablecoin. Rajan Bullish Comment on RLUSD LaunchCommenting on the launch of RLUSD, Rajan expressed that stablecoins have the potential to become the backbone of payments. According to him, they provide a secure and efficient alternative to traditional systems.He specifically highlighted that RLUSD, with its focus on compliance and reliability, aims to set new standards for trust and play a key role in shaping the future of payments."Joining the Advisory Board allows me to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape, Rajan concluded.Other Big Names in Ripple's RLUSD Advisory BoardIn the advisory role, Rajan will collaborate with Kenneth Montgomery, former Chief Operating Officer of the Federal Reserve Bank of Boston. Besides, Ripple's RLUSD advisory board already includes notable figures such as former FDIC Chair Sheila Bair, David Puth, Vice Chairman of Partners Capital, and Ripple co-founder Chris Larsen.
Text source: The Crypto Basic
