San Francisco-based Ripple announced today a new addition to its team with Miguel Vias appointed as Head of XRP Markets. In his new role, Mr. Vias will utilize his considerable expertise building liquidity for new financial products by working with market makers, traders, investors, and exchanges to strengthen XRP Markets and set the stage for large-scale institutional adoption.
Global financial institutions are increasingly looking for solutions to consolidate the liquidity tied up with the nostro accounts required to fund their overseas payments. Digital assets allow for banks to fund their payments in real-time, and in the process, cut down their dependency on nostro accounts. A strong XRP reinforces these economics.
Vias joins Ripple from CME Group, where he was Global Head of Precious Metals and Metal Options at the largest precious metals desk in the world. Prior to the CME, Miguel honed his craft at the commodities desks of Morgan Stanley, Bank of America, and Mitsui. He brings nearly two decades of trading experience to the Ripple team.
Global payments company Ripple
XRP is an independent digital asset, native to the Ripple Consensus Ledger. With proven governance and the fastest transaction confirmation of its kind, XRP is the most efficient settlement option for financial institutions and liquidity providers seeking global reach, accessibility, and fast settlement finality for interbank flows.
While XRP is not required to transact on Ripple, it is uniquely positioned to create more competitive markets for cross-border payments.
To view market capitalization, 24-hour payment volume, and other data about XRP, visit Ripple Charts.