Home Capital & Crypto Ripple Hires Former SWIFT Board Member & Banking Executive

Ripple Hires Former SWIFT Board Member & Banking Executive

Samburaj Das
Last Updated March 4, 2021 4:47 PM
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Distributed financial settlement solutions provider Ripple has announced the hire of Marcus Treacher, a veteran in transaction and payment systems banking. Treacher is a former executive at HSBC and member of the Global Board at SWIFT.

In a press release , Ripple has announced a new hire in Marcus Treacher, as its new global head of strategic accounts. Treacher is an industry veteran with over 30 years of experience in payment systems and transaction banking. A former executive with a global leadership role at UK-based global bank HSBC for 12 years,Treacher also served as member of the Global Board at SWIFT from 2010 to 2016.

The appointment comes at a time during the increasing global fervor for blockchain technology in financial institutions and markets. More specifically, blockchain innovation has often been lauded as the next big leap in the global remittance industry, which would squarely make it the serious competitor for SWIFT.

Also read: SWIFT Panel sees a Future for Bitcoin in International Banking

The press release spoke up Treacher’s previous experience in HSBC as global head of payments innovation at the bank. Here, the former banking executive established a team focused on applying fintech innovation in digital payments, trade and supply chain.

Notably, several projects at HSBC under his leadership included the adoption of blockchain or distributed ledger technologies. Furthermore, Treacher’s leadership role at the bank also saw research and establishing of alternative international mobile payments, compared to more traditional models.

In a statement via the press release, Treacher said:

Since the early days of the web, I’ve been exploring how new technology can impact and improve banking.

Ripple stood out to me as a company that has both the vision and the expertise to truly transform the future of banking and payments, and I’m excited to join the team during this important moment in time where banks are starting to see the need for these advancements to better serve their customers.

Treacher recently launched a Fintech innovation center in collaboration with the Monetary Authority of Singapore, with his considerable experience in the global payments space.

The blockchain industry’s new executive hire will join Ripple’s European headquarters in London, a city that is quickly becoming the go-to fintech destination.

In similar news, global payments giant PayPal announced the appointment of bitcoin entrepreneur, enthusiast and evangelist Wences Casares to its board of directors in January this year. The payments giant recognized Casares as a “recognized next-generation payment and crypto-currency thought leader” who will go on to serve on the board of PayPal’s Compensation Committee.

Featured image from Shutterstock.