The XRP Ledger Foundation (XRPLF) has reached a significant milestone by officially registering as a non-profit association in France. The incorporation under French 1901 law marks a new chapter for the foundation, aligning with its mission to provide long-term security, coordination, and effective, decentralized contributions to the XRP Ledger.
As reported by Bitcoinist earlier this year, the initiative was announced involving XRPL Commons, XRPL Labs, Ripple Labs, and XAO DAO—a community decentralized autonomous organization (DAO). The goal was to establish a new, inclusive, and visible XRPL Foundation that promotes decentralized collaboration among community members after the old foundation dissolved.
New XRP Ledger Foundation Taking Shape
The official filing in France solidifies this vision. “The decision to incorporate in France aligns with the original objectives laid out in the XRPL.org post on August 10, 2024, and marks a new chapter in the Foundation’s history,” the organizations stated in a joint announcement.
The new foundation is committed to fostering a secure, resilient, inclusive, and thriving XRPL community. Its purpose is twofold: to promote and facilitate the community and operations of the XRPL, and to support the XRP Ledger, ensuring it functions in an open, decentralized, and transparent manner. The foundation aims to empower users and developers to confidently build decentralized applications, financial tools, and infrastructure on the XRPL.
To achieve its objectives, the XRPLF has outlined several key areas of focus, including enhancing security and stability, promoting adoption of XRPL technology, safeguarding intellectual property, empowering developers, building transparent governance structures, forging strategic partnerships, educating and engaging the community, supporting sustainable development practices, engaging in regulatory advocacy, and driving interoperability with other blockchain networks. Success will be measured through increased developer engagement, new partnerships, regulatory advancements, community adoption rates, and membership growth.
The governance of the new foundation is designed to balance continuity with fresh perspectives. The four founding members—XRPL Commons, XRPL Labs, Ripple, and XAO DAO—will maintain key roles on the Board of Directors. Additional rotating directors will be elected based on expertise, ensuring “balanced representation from a broad range of stakeholders,” according to the announcement. Key governance features include board elections where the Board will elect a President, Secretary, and Treasurer for two-year terms, with the President elected from among the founding members.
Serving as a democratic forum, the General Assembly will allow Associate Members to provide advisory input on strategic decisions. Meetings will occur at least annually, requiring a quorum of one-quarter of the members. Several committees will oversee specific areas: the Membership Committee evaluates new member applications, the Audit Committee oversees financial integrity, the Infrastructure Committee focuses on technical development and maintenance, the Core Development Committee guides core protocol enhancements, and the UNL Committee manages validator network oversight.
The foundation emphasized its commitment to transparency: “The XRPL Foundation is committed to transparency from day one and will openly publish the budget, work plan, and internal rules of procedure once completed.” Operating under French law, the new foundation stipulates that the Paris Court of Appeals will have exclusive jurisdiction over disputes.
As the XRPLF moves forward, several critical steps are planned, including the transfer of assets from the previous entity to the new foundation, recruitment of an Executive Director and staff to manage daily operations, and establishing committees to set up efficient governance processes. Completing these steps is “crucial in ensuring a smooth transition from the previous entity and setting the stage for the new Foundation’s future success,” the announcement stated.
In early 2025, the foundation will launch its committees, inviting individuals and organizations to participate. Community members can get involved by applying for Associate Membership through the Membership Committee, participating in the General Assembly to provide advisory input on strategic decisions, and joining specialized committees based on expertise. “The new XRPL Foundation has been designed with inclusivity in mind,” the organizations emphasized. This structure aims to provide “multiple entry points for the wider XRPL community to contribute.”
At press time, XRP traded at $1.4583.
