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Xahau is in the spotlight amid the launch of Blockchain-Based Settlement for Euro remittances to Ethiopia.
Global payments infrastructure company TerraPay, in partnership with Cooperative Bank of Oromia, announced the launch of Blockchain-Based Settlement for inward remittances to Ethiopia. The initiative, which supports euro-denominated remittance flows from Europe, was developed in collaboration with the Inclusive Financial Technology Foundation (INFTF).
INFTF and TerraPay worked together with Ethiopian financial authorities to establish the regulatory and technical framework for the blockchain-based inward remittance settlement.
At the core of the initiative is the use of the Xahau Blockchain as the settlement layer.
The official Xahau X account highlighted this in a recent tweet, noting that a major milestone on the Xahau roadmap had been completed, while pointing to increasing utility of the Xahau blockchain.
XRP Ledger new developments
The XRP Ledger Foundation, a non-profit organization that contributes to, grows, and advocates for the XRP Ledger and its community, has announced a new team. This includes Brett Mollin, who serves as Executive Director; Denis Angell, appointed as Chief Technology Officer; Rene Huijsen, serving as Director of Operations; and Vet (Hussein Zangana), who operates as Director of Community.
The new team seeks to collaborate with XRP Ledger stakeholders to drive progress in all areas of the community and technology.
A new XRPL version 3.1.3 has been released in the latest update to the network, which includes one fix amendment.
This week, Ondo, Ripple, JPMorgan, and Mastercard completed the first cross-border redemption of tokenized US Treasuries on the XRP Ledger, a major milestone for the blockchain.
Dan Burgin
U.Today Editorial Team
