XRP - Page 24

XRP is a digital asset and cryptocurrency that operates on the XRP Ledger, which is a decentralized blockchain technology. Initially created by Ripple Labs Inc. in 2012, XRP was designed to facilitate fast and cost-effective cross-border payments and remittances. It aims to improve the efficiency of international money transfers by providing liquidity and enabling instant settlement of transactions. Unlike traditional cryptocurrencies such as Bitcoin, which are often mined, XRP's supply is pre-mined, with a total of 100 billion XRP tokens generated at its inception. XRP is utilized by financial institutions and payment providers to streamline payment processes and reduce transaction costs, making it a key player in the evolving landscape of digital finance and blockchain technology.