Ripple - Page 16

Ripple refers to both a digital payment protocol and the cryptocurrency associated with it. It is designed to facilitate instant, low-cost international money transfers. Ripple's technology enables banks and financial institutions to settle transactions efficiently across different currencies, using a shared ledger system known as the RippleNet.The native cryptocurrency of the Ripple network is called XRP. XRP is used as a bridge currency in transactions to provide liquidity and reduce the need for pre-funding accounts in different currencies. This makes cross-border payments faster and more efficient compared to traditional banking methods.In summary, Ripple encompasses the payment technology aimed at improving global financial transactions, alongside its associated cryptocurrency, XRP.