Ripple becomes the founder of the DeRec alliance along with Swirlds Labs and the Algorand Foundation. The goal of the alliance is to simplify the implementation and recovery of digital assets. The DeRec protocol allows you to recover private information even if the device is lost for two-factor authentication. 🔄

Dr. Lemon Baird, co-founder of Hedera, said that the DeRec Alliance was developed as an open source project to create convenient, secure and decentralized asset recovery for all wallets.

Ripple and its XRPL Labs unit have joined Hedera and Algorand as members of the technical oversight committee.

Ripple also announced the launch of its stablecoin on the XRP Ledger and Ethereum blockchains at the end of 2024.