As part of our ongoing effort to support and develop the Ripple protocol and ecosystem, Ripple Labs has joined the NACHA Payments Innovation Alliance.
While Ripple Labs is fundamentally a software company, our positioning in this emerging space requires us to be not only technologists but also influencers. Our membership with the NACHA Alliance is another opportunity to further our mission of working with everyone within the industry to help drive innovation around the movement of money.
Founded in 1974, NACHA is one of the country’s premier industry groups, representing over 11,000 financial institutions, and oversees ACH (Automated Clearing House), the electronic network that’s the backbone of US payments.
As an open source protocol, Ripple resides at the bottom of the payment stack, serving as a platform for financial institutions and develops to transact and build on. But as invaluable as the technology that allows a smarter and more inclusive system, the movement of money is facilitated by rules and guidelines that ensure proper risk management, fairness, and industry-wide standards.
Having played a pivotal role in developing and overseeing industry standards for decades, organizations like NACHA and SWIFT provide invaluable insight and experience and are well positioned to help guide new payment technologies and standards in a manner that’s safe, secure, and productive.
As Ripple Labs continues to learn from and cooperate with the industry as a whole, joining the NACHA Alliance is an exciting and obvious next step.
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