The biggest blockchain enterprise payment solution company has recently announced its new General Counsel. Stuart Alderoty, the CIT group vice president has joined ripple company as the General Counsel who will look after all the legal services and compliance of the company.
Ripple is a global payment startup based in US connecting financial institutions, banks, and digital assets via RippleNet. Ripplenet provides a frictionless experience to global payments. XRP has turned heads since always and is still leading the league. Ripple is one of the fastest growing digital cryptocurrency which facilitates sending/receiving money across the globe at a very cheap price and faster rate. Ripple has become one of the most valuable and biggest startups in the US with Uber, WeWork, Airbnb etc
Stuart Alderoty has more than 30 years of legal experience with expertise in banking affairs. Mr. Alderorty served as Executive vice president, corporate secretary and general counsel of leading financial institution CIT and brings his experience to the Ripple. Not just the CIT, Alderoty has experience of HSBC North America as General Counsel and prior to that, he was working with American express as managing counsel. Prior to working as General counsel, he worked with a law firm on partnership.
Alderorty View about Ripple
Alderorty said “Blockchain technology is transforming the financial services industry and Ripple has been at the forefront for both its technology and thoughtful approach to policy. I am thrilled to join Ripple and work alongside this great team which Brad has assembled as we find new ways to partner with leading policymakers and continue to create significant solutions for Ripple users and end customers across the globe.”
It seems like Stuart Alderoty is glad to join ripple company and has a clear vision regarding future collaborations. The position was vacant since September last year and ripple is proud to announce Stuart Alderoty as new General Counsel. Ripple CEO believes that Stuart Alderoty will perform a vital role in supporting the growth of ripple and in fact the overall crypto industry.
Brad Garlinghouse while appointing Stuart Alderoty as General counsel legal services also said that “As we continue to work with financial institutions and regulators across the globe to drive home the importance of fostering innovation while protecting our consumers, I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart Alderoty.”
Blockchain and crypto industry is going through a very critical phase. All the crypto firms and startups are strengthening themselves in terms of finance, securities, and legal matters. The appointment of Stuart Alderoty as General counsel legal services at this time is a step towards global expansion. Not just Ripple, other companies like Huobi, Tron, and Coinbase all of them have made some top-level recruitment in the last 2 months. It is likely to expect few such more recruitments in the next six months in these companies and startups.
Ripple is having a hard time dealing with lawsuits and Alderoty will have his hands full with all of these. Ripple is facing various class action lawsuit against XRP token claimed by many investors regarding Ripple XRP securities. A legal battle is going between Ripple XRP investors and global payment startup company Ripple. With leading and winning so many battles, XRP is dealing with all these allegations and critics too.
Ripple has always surprised the market and its investors with each and every step. First increasing partnerships with banks and financial institutions and now the appointment of new General counsel, Ripple is definitely up to something big. It is somehow good news for Ripple believers and investors. Let’s see how things work or changes with Stuart Alderoty.