The Interledger Foundation (ILF) is actively working to promote the development of an interoperable payments network that includes stablecoins.
As a regulatory framework for stablecoins takes shape in the U.S., companies are rushing to respond and launch their own versions. However, the ILF points out that there’s currently no infrastructure that allows these currencies to interact effectively.
To address this, the ILF advocates for the Interledger Protocol—a free, open-source standard designed to facilitate the movement of money in a way that mirrors how information flows across the internet.
The foundation asserts that this protocol provides a solution for seamless transactions among currencies, independent of issuer, blockchain, or other barriers that have historically hindered interoperability in emerging payment options.
“The rise of stablecoins in the United States is the ideal opportunity to establish the open ecosystem necessary for their mainstream adoption, allowing them to transact globally with one another,” says Alex Lakatos, CTO of the Interledger Foundation.