Gary Gensler has taught courses about blockchain at MIT.
Following an alleged December breach, the trading platform now says it will close and repay users any remaining funds.
The trader operating a registered digital currency exchange, says he is unable to continue operating without banking services.
The planned new hire along with a recent expansion show Ripple does not seem deterred by legal troubles in the U.S.
The technology is aimed at tracing commodity flows in near real-time.
The digital asset manager passed a key milestone this week.