According to Odaily Planet Daily, Ripple and XRP Labs have joined Hedera developer Swirlds Labs and Algorand Foundation as founding members of the Decentralized Recovery (DeRec) Alliance. The DeRec Alliance aims to provide an open source process to accelerate the recovery of digital assets. Members work together to develop a new interoperability recovery standard that is suitable for ordinary users. In addition to Ripple and XRP Labs, other members of the DeRec Alliance include Acoer, BankSocial, Blade Labs, The Building Blocks, Casper Association, Constellation Network, Hashgraph Association, HBAR Foundation and Revive Labs.