As 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 importance of bringing such high-profile figures into the RLUSD project.
Expertise Rajan brings to Ripple’s Stablecoin Advisory Board
Rajan was the IMF’s research director and chief economist from 2003 to 2006. He later became the 23rd Governor of the Reserve Bank of India (RBI) from September 2013 to September 2016. While at RBI, he also became deputy chairman of the Bank for International Settlements in 2015.
In 2005, Rajan warned of increasing risks in the financial system at the Federal Reserve’s annual meeting in Jackson Hole. While he predicted a possible financial crisis, he suggested measures to mitigate these risks.
Former US Treasury Secretary Lawrence Summers initially dismissed his predictions, calling them “misguided”. However, after the 2007-2008 financial crisis, Rajan’s warnings were widespread recognized as forward-looking.
In November 2008, Rajan took on the role of honorary economic advisor in India and wrote policy briefs. In August 2012, he was appointed as Chief Economic Advisor to the Indian Ministry of Finance.
Now, Raghuram Rajan joins the RLUSD Advisory Board to provide expert advice on financial, regulatory and operational issues to help ensure the stability and growth of Ripple’s stablecoin.
