62  Blockchain

Ripple

Ripple was founded in 2012 and since then has sold its cryptocurrency

(XRP) to incentivise market maker activity to increase XRP liquidity. The

cryptocurrency behind Ripple is XRP which can be traded on various

exchanges around the globe.

The current market position of XRP liquidity is:

• XRP held by Ripple – ~$5.6bn

• XRP distributed through crypto exchanges – ~$50bn

• XRP placed in Escrow – ~$44.3bn

Note: The above is current as of 23 October, 2022 (Source: https://ripple.

com/xrp/market-performance/)

Ripple is one of the best payment solutions with quick transfer of pay-

ments and provides a secure, transparent and quick solution for cross-

border payments. The Ripplenet payment network is a high-performance

global payment business solution.

Use cases

• Santander Bank (https://ripple.com/customer-case-study/santander/)

used Ripple to bring faster, cheaper cross-border payment solutions to

millions of its retail and commercial customers.