About Ripple

Ripple is a real-time gross settlement system, currency
exchange and remittance network created by Ripple Labs Inc., a
US-based technology company. Released in 2012, Ripple is built upon a distributed open
source protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units
of value such as frequent flier miles or mobile minutes.^[2] Ripple
purports to enable “secure, instantly and nearly free global financial
transactions of any size with no chargebacks”. The ledger employs the
native cryptocurrency known as XRP.