Xahau was launched on October 30, 2023 by the Xahau Launch Alliance, an interim alliance formed by long-term, non-Ripple, XRPL developers, organisations and infrastructure providers: XRPL Labs, GateHub Limited, Titanium OU, Evernode Labs Ltd, and Digital Governing OU.
In the first year Xahau has received many updates, such as a new native feature, Remit, in March 2023, performance improvements, memory only nodes and JavaScript hook support.
Within the first year, the first cross-border remittance service was launched in collaboration between The Inclusive Financial Technologies Foundation (InFTF) and the Cooperative Bank of Oromia (COOP), one of Ethiopia's largest banks with more than 13 million account holders. The inward remittance solution helps the African Diaspora, many of whom work as blue-collar workers throughout the Middle East, US, and Europe, send money back to their friends and family in Ethiopia. With the service, initially launched for inward remittances using EUR, anyone can buy digital EUR, send it via blockchain for little to no cost, and have it settle in the bank account of a family member or friend in the local currency, ETB, within seconds.
The InFTF also signed a Memorandum of Understanding with the African Union to advance the work of the AU Peace Fund through the deployment of cutting-edge innovative financial technologies. This collaboration will unlock new pathways for contributions, making it easier and more accessible for individuals and organizations to support peace initiatives in Africa through the development of a seamless donation platform using Xahau enabling contributions in multiple currencies.