Ripple Labs Taps US Treasury Official for Advisory Board

Blockchain startup Ripple Labs has added a former US Treasury Department official to its board of advisors.

AccessTimeIconJul 29, 2015 at 6:19 p.m. UTC
Updated Sep 11, 2021 at 11:48 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
Michael Barr
Michael Barr

Ripple Labs has added Michael Barr, a former US Treasury Department official, to its board of advisors.

previously served as Assistant Secretary for Financial Institutions under President Barack Obama and as a special Treasury advisor to former President Bill Clinton. Barr also worked in the State Department and the US Supreme Court. He is currently teaching at the University of Michigan Law School.

Barr said in a statement:

“Our global payments system is badly outdated. I think innovation in payments can help make the financial system safer, reduce cost and improve access and efficiency for consumers and businesses alike.”

With the move, Barr becomes the latest former Obama administration official to join the startup's board of advisors.

Former director of the National Economic Council Gene Sperling was named to the board in January, and in March the company added former State Department official Anja Manuel.

Ripple Labs is the developer of a distributed payments network geared toward financial institutions.

The company is one of a growing number of startups pitching more permissioned blockchain alternatives to banks and financial services providers worldwide.

Image credit: Wikimedia

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.