Blockchain payments startup Ripple has added new director to its board, Yoshitaka Kitao, who is currently president, representative director and CEO of Japanese financial giant SBI Holdings.
Ripple announced the news last week, saying that Kitao will be replacing the CEO of SBI Ripple Asia Takashi Okita.
Kitao has over 40 years of work experience in global financial markets. He established SBI Holdings in 1999 and has previously worked with Softbank Corporation and Nomura Securities, according to the announcement.
Ripple co-founder and executive chairman of the firm’s board of directors, Chris Larsen, said:
SBI Ripple Asia also formed a consortium last year to research the use of blockchain technology in securities products, aiming to improve efficiency for customers and reduce operational costs for firms.
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