In light of the SEC’s action against Ripple Labs, Inc., trading in XRP has been suspended as of January 19, 2021. XRP is the cryptocurrency used by the Ripple payment network. Built for enterprise use, XRP aims to be a fast, cost-efficient cryptocurrency for cross-border payments.
Utility for the new global economy
Fast and green, the digital asset XRP was built to be the most practical cryptocurrency for applications across the financial services space.
XRP powers innovative technology transforming the global financial services space
Companies, institutions, developers and individuals around the world use XRP and the blockchain on which it runs, the XRP Ledger (XRPL), because of its extraordinary utility.
This open-source, permissionless and decentralized technology is carbon-neutral and fast—settling transactions in 3-5 seconds.
Why Ripple uses XRP and XRP Ledger
Instant cross-border payment settlement
By using XRP for cross-border payments, institutions can bridge currencies and ensure payments are sent and received in local currency on either side of a transaction in as little as 3 seconds.
Sustainable central bank digital currencies
Using a private version of the public, open-source XRP Ledger, Central Banks can use a secure, controlled and flexible solution for the issuance and management of digital currencies.
Powerful utility for developers
The team at Ripple focused on building XRPL tools, services and other resources—team RippleX—partner with the global XRPL developer community to build the greenest infrastructure for blockchain applications and innovations.