Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP. Ripple’s main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies.
The token used for the cryptocurrency is premined and uses the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks—as a sort of temporary settlement layer denomination. Ripple was first released in 2012 and was co-founded by Chris Larsen and Jed McCaleb.
Bradley Kent Garlinghouse is the CEO of financial technology company Ripple Labs. He previously was the CEO and chairman of Hightail (formerly YouSendIt). Before Hightail, he worked at AOL and Yahoo!
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