Ripple Foundation Joins XRPL Foundation
Blockchain company Ripple has become one of the founding members of the newly established XRP Ledger (XRPL) Foundation. This foundation was formed in France on Nov. 26 with the goal of uniting and overseeing the broader XRPL ecosystem. The XRPL Foundation includes Ripple, XRPL Labs, XRPL Commons, the previous XRPL Foundation, and key members of the XRP community.
Mission of XRPL Foundation
The primary mission of the XRPL Foundation is to promote the long-term growth, security, and decentralized contributions to the XRPL. The foundation aims to create a thriving, inclusive, and resilient XRPL community where developers and users can confidently build decentralized applications, financial tools, and blockchain infrastructure.
Key Focus Areas
- Reclaiming assets from the previous XRPL Foundation
- Implementing a governance model involving developers, users, validators, academia, and infrastructure providers
- Guidance from XRPL Commons, XRPL Labs, Ripple, and XAO DAO through board representation and decision-making roles
Support for Bitwise XRP Fund
In addition to its involvement in the XRPL Foundation, Ripple has shown support for XRP through a strategic investment in Bitwise’s Physical XRP Exchange-Traded Product (ETP). This product, previously known as ETC Group Physical XRP, provides European investors with exposure to XRP through a physically backed structure.
Bitwise CEO Hunter Horsley highlighted XRP’s reputation as a reliable and well-known blockchain network. He emphasized the unique features of the XRPL, which has a track record of over 10 years in reliability and continuous expansion in capabilities.
Ripple CEO Brad Garlinghouse also expressed confidence in the global demand for crypto-backed investment products. He believes that recent regulatory clarity in the US will drive this demand even higher, particularly for offerings like the Bitwise Physical XRP ETP.
