The Interledger Foundation (ILF) is extending its efforts to promote the creation of an interoperable payments network to include stablecoins.
As a regulatory framework for stablecoins arrives US, firms are scrambling to react and launch their own coins. However, the ILF says that there is currently no infrastructure in place for those currencies to interact with one another.
Its answer is the Interledger Protocol - a free open source protocol that enables money movement through digital standards which mimic those that dictate the flow of information on the internet.
The foundation argues that the protocol offers a solution for seamlessly transacting currencies regardless of issuer, blockchain or other factors that have traditionally limited interoperability across emerging payments options.
“The rise of stablecoins in the United States is the perfect moment to create the open ecosystem necessary to ensure their mainstream adoption by enabling them to transact with one another, anywhere in the world,” says Alex Lakatos, CTO, Interledger Foundation.