Ripple (XRP) –The U.S Faster Payment Council (FPC) has elected Ripple’s VP of Strategic Accounts, Pat Thelen, as one of its directors.
Pat, who joined Ripple in May 2018, was elected as the organisation’s first elected board of directors.
In a release Monday, FPC highlighted the names of the newly elected individuals, where Pat among other representatives from the technology providers section, were selected, to serve a year term.
Kevin Christensen, acting FPC executive director and interim Board chairman, in a statement on Monday, said the new board represents the industry’s inclusiveness which is an integral part of the organisation.
Centered on conveying the payment industry’s stakeholders, FPC is working on creating a path to ubiquitous faster payments, this, the newly elected directors are expected to push forward.
The organisation aims at achieving universal faster payments, which is one major reason Ripple Inc. and XRP were created.
According to FPC law, 21 voting members represents the voting membership segments. Also, every voting segment is given three seats, while unfilled positions are left vacant.
As it is now, the newly elected members are guided through continuity and fresh perspectives. That is, nothing less than 65 percent of newly elected leaders benefits from the experience of the interim Board, with the remaining 35 percent representing the new FPC directors.
The number of votes determine the lengths of term to be used by the elected members. This means that directors with the longest term received the largest support from members during the election.
How Ripple (XRP) will Benefit
FPC is a new industry-led organization whose aim is to champion the state of the art payment system that gives Americans the opportunity to achieve secure and safe payment to anywhere and anyone in a seamless, instant, and reduced cost manner.
The organisation is opened to all stakeholders in the payment industry in the U.S. The inclusion on Ripple’s executive in the system will open the Blockchain Company and XRP to diverse opportunity, since FPC is working tirelessly on increasing the adoption of faster payment in the country. This is indeed a giant opportunity for Ripple.
At the Swiss National Bank Conference (SNBC) few days ago, the CEO of Ripple Brad Garlinghouse spoke in a company of central bankers and the director of International Monetary Fund on the outstanding performance of Ripple’s xCurrent and xRapid.
At the gathering he referred to xCurrent as SWIFT 2.0, stating afterward that XRP-centric xRapid is being used in Argentina and some other countries.