Ripple is a decentralized platform that facilitates the exchange of value between different currencies. It's not a cryptocurrency, but rather a company that's focused on making cross-border payments smooth and easy.
The company has been around since 2013 and has become the go-to for banks and payment providers to reduce costs and speed up transactions. Ripple has raised $2 billion in funding from investors like Google Ventures, Andreessen Horowitz, Accenture and Santander Bank.
Ripple (XRP) is currently ranked No. 13 by market cap at $24 billion. The token is used by banks and other financial institutions to settle international payments in real time. XRP can be used for instant settlement in any currency, including dollars or euros, which makes it attractive for banks who want to lower their costs by not having to convert currencies before sending them across borders.
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