- Ripple President Monica Long announced plans for a new independent XRP Ledger Foundation.
- The XRP Ledger Foundation has been renamed to the Inclusive Financial Technology Foundation (INFTF).
- Community members express concerns about the future support and stability of XRP Ledger.
Ripple unveils plans for a new independent XRPL foundation amidst the rebranding of the XRP Ledger Foundation to INFTF.
Monica Long’s Announcement and XRPL Community Reactions
In a recent tweet, Ripple President Monica Long disclosed the company’s intention to establish a new independent XRP Ledger Foundation. This announcement follows the rebranding of the XRP Ledger Foundation to the Inclusive Financial Technology Foundation (INFTF), an entity focused on promoting financial inclusion through diverse technologies. The XRP Ledger (XRPL) community had raised concerns about the transition and sought clarity on Ripple’s plans to support XRPL’s ongoing development and stability.
Ripple’s Clarification on XRPL’s Future
Responding to community inquiries, Monica Long emphasized that discussions are underway involving various stakeholders like XRPL Labs, XRPL Commons, and Ripple. These discussions aim to form a new independent XRPL Foundation distinct from the newly renamed INFTF. Ripple CTO David Schwartz corroborated Long’s statements, indicating that the company is committed to aligning on the best path forward to serve the interests of the XRPL community, with more specifics to be shared soon.
Rebranding of XRPL Foundation to INFTF
On August 6, 2024, the XRP Ledger Foundation officially announced its renaming to the Inclusive Financial Technology Foundation (INFTF). The rationale behind this change is to remove the limitations associated with being linked to a single technology. By broadening its scope, INFTF aims to explore solutions beyond what is traditionally expected from an organization formerly known as the XRP Ledger Foundation, thereby promoting global social and financial inclusion.
Global Collaborations and Future Prospects
The Inclusive Financial Technology Foundation has been active in collaborating with multiple international organizations to further its mission. As an associate member of the Organisation for Southern Cooperation, a body consisting of 28 member countries, INFTF is working towards leveraging its new identity to foster broader financial and social inclusion. This strategic shift also provides a platform for various stakeholders to collectively focus on preserving crucial elements such as the XRP trademark, the Code Repository, and the xrpl.org domain.
Conclusion
The rebranding of the XRP Ledger Foundation to INFTF marks a significant shift in the organization’s strategy, aimed at supporting a broader range of financial technologies. Ripple’s commitment to establish a new independent XRPL Foundation demonstrates its dedication to maintaining the decentralized and innovative nature of the XRP Ledger. As the discussions progress and more details emerge, the XRPL community can look forward to a future where their concerns are addressed and their interests safeguarded, ensuring sustained growth and stability for the XRP Ledger.
