Ripple refers to three things.
- The Ripple Company
The Ripple company is based in California. It was founded in September 2012. Originally was named OpenCoin, but later it was renamed Ripple Lab Inc. The Ripple Company runs the interbank payment protocol. It has offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, as well as over 100 customers around the world.
- Ripple Network or Protocol
Ripple is an infrastructure for global payments that allows banks to send real time cross-border payments to each other. It is a payment network for value transfers between any two financial institutions that don’t have a direct relationship. By design Ripple already complies with all of the regulations for financial institutions.
- Ripple Native Currency (XRP)
The native currency of the Ripple network is XRP / Ripple. It has two main purposes. Firstly, it used to pay fees on the Ripple network. Secondly, XRP is used as bridge currency which gives the option of making payments in any asset such as USD, EUR or in any other cryptocurrency. Ripple is a bridge between the old financial system and new digital currencies.
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