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Former CME executive becomes head of XRP markets

02 Sep 2019 : 12:37
2 min read

Phil Jackson used to say that the “strength of the team is each individual member”, and Ripple couldn’t agree more. The 3rd cryptocurrency by market cap has officially announced that a new gem has joined the team: Miguel Vias. Vias was an executive at the CME Group and is now the head of all XRP markets.

Vias has been recognised for his effective approaches to build liquidity for new financial products by working with market makers, traders, investors and exchanges. Miguel’s expertise may be a key piece of the puzzle, with many enthusiasts saying that it will strengthen the financial network of the Ripple.

Large-scale institutional adoption has been the main goal of Ripple’s team for almost two years now and his introduction consolidates the vision.  In their official blog post, Ripple commented that:

“Ripple is proud to announce another addition to our team: Miguel Vias. In his new role, Vias will utilize his considerable expertise building to markets and set the stage for Iglobal 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”.

Miguel has a strong financial background. He has worked for the commodities desks of Morgan Stanley, Bank of America, and Mitsui. With more than 20 years of commodities trading experience, Miguel is eager to join the crypto world. The former executive of the CME has affirmed the following:

“I think the natural ethos of digital currencies actually limits their utility and thus general adoption. In order for any currency, digital or not, to achieve critical institutional adoption requires a team of people to manage its progress. As a thought experiment, it might be comforting to think that open source adoption is possible, but the reality is much more complicated. From building the team to the product, to the market infrastructure, XRP is obviously the best blockchain-focused fin-tech startup in the world. So when I had the opportunity to become part of the team, there was no way I was going to pass it up”.

Image licensed via Shutterstock

Michela Silvestri

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