Ripple, a leading blockchain firm, has become one of the founding members of the XRP Ledger (XRPL) Foundation, which was established in France on Nov. 26. The foundation’s main goal is to bring together various key players in the XRPL ecosystem to ensure its long-term growth, security, and decentralized contributions. This includes Ripple, XRPL Labs, XRPL Commons, the former XRPL Foundation, and other important members of the XRP community. By creating a solid governance model, the foundation aims to foster a thriving and inclusive XRPL community where developers and users can create decentralized applications, financial tools, and blockchain infrastructure.
The XRPL Foundation’s initial focus will be on reclaiming assets from the previous XRPL Foundation and implementing a governance model that represents a variety of stakeholders, including developers, users, validators, academia, and infrastructure providers. By having key contributors like XRPL Commons, XRPL Labs, Ripple, and XAO DAO involved in board representation and decision-making roles, the foundation hopes to steer the XRPL ecosystem in the right direction. With the XRPL blockchain gaining popularity for its scalability, low costs, and regulatory compliance, it has become an attractive platform for tokenizing real-world assets (RWAs), attracting attention from major institutional players like SG-FORGE, the crypto division of Societe Generale.
In addition to its involvement in the XRPL Foundation, Ripple has also made a strategic investment in Bitwise’s newly rebranded Physical XRP Exchange-Traded Product (ETP). Previously known as ETC Group Physical XRP, this product offers European investors exposure to XRP through a physically backed structure that holds the token. Bitwise CEO Hunter Horsley highlighted XRP’s strong reputation as a trusted blockchain network, with over 10 years of reliability and continuous expansion in capabilities. Ripple CEO Brad Garlinghouse also emphasized the increasing global demand for crypto-backed investment products, especially following recent regulatory clarity in the US, which is expected to drive interest in offerings like the Bitwise Physical XRP ETP.
The partnership between Ripple and Bitwise reflects the growing interest in XRP as a reliable and recognized blockchain network. As more investors seek exposure to cryptocurrencies through regulated investment products, the launch of the Bitwise Physical XRP ETP is likely to attract a new wave of investors looking to participate in the digital asset market. With support from established players like Ripple and Bitwise, XRP is poised to further establish itself as a reputable and trusted asset within the global cryptocurrency ecosystem.
Overall, the formation of the XRPL Foundation and Ripple’s strategic investment in Bitwise’s Physical XRP ETP underscore the continued growth and development of the XRP ecosystem. By collaborating with key partners and stakeholders, Ripple aims to strengthen the XRPL community, drive adoption of XRP, and provide innovative financial solutions for users and developers. With the increasing recognition of XRP as a reliable blockchain network and the introduction of new investment products, the future looks promising for Ripple and the broader XRP ecosystem.
