Ex-Ripple exec joins Algorand Foundation as CTO to reboot its L1 strategy
Former lead developer at the XRP Ledger, Nikolaos Bougalis, is joining the Algorand Foundation.
- Nikolaos Bougalis will join the Algorand Foundation as a CTO
- Bougalis is a former lead developer at XRP Ledger
- The appointment signals Algorand’s commitment to decentralization and compliance
Algorand has secured a rare L1-to-L1 executive jump. On Monday, September 29, the Algorand Foundation announced the appointment of Nikolaos Bougalis as its new Chief Technology Officer. The Foundation highlighted his blockchain experience, particularly his role as a former engineering lead at Ripple and lead developer of the XRP Ledger.
“Nik brings a wealth of experience in distributed systems, cryptography, and blockchain,” said Staci Warden, CEO of the Algorand Foundation. “He will help us double down on decentralization, performance, and security, solidifying Algorand’s position as the blockchain of choice for enterprise-scale blockchain applications.”
His appointment comes after the former Algorand Foundation CTO, John Woods, announced his stepping down from his role in May. Woods did not reveal why he stepped down, but stated he would continue working for the Foundation until a replacement has been found.
Algorand gears for 2025 roadmap, U.S. return to the U.S.
Bougalis’ appointment comes at a critical time for Algorand, the Foundation notes. For one, in July, Algorand released its 2025 technical roadmap, which includes Web3 core values, mainstream adoption, high-potential use cases, and bleeding-edge technology.
What is more, Bourgalis will be U.S.-based, which will help him guide Algorand’s planned relocation to the country, announced on August 11. In particular, the Foundation notes that he will support Algorand’s ambition to become a key blockchain infrastructure provider for U.S. enterprises.
Algorand Foundation is incorporated in Singapore. It previously faced regulatory scrutiny from the U.S. Securities and Exchange Commission, which named it as one of several crypto asset securities in other lawsuits. However, since the leadership change following the November 2024 elections, the SEC has taken steps to resolve its lawsuits.
