There are thousands of cryptocurrency available in the crypto space today. However, not all can be considered reliable for investment in digital assets.
In this series of Know Your Digital Asset (KYDA) series, we will explore cryptocurrencies in which are widely accepted by regulated exchanges and with real-case use.
What is Ripple (XRP)?
Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc. (US-based technology company). Ripple is both a platform and a currency.
It supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.
Real-Time Cross-Border Payments
The Ripple platform is an open-source protocol designed to allow fast and cheap transactions. The platform has its currency, XRP, and enables developers to create their platforms via RippleNet.
Ripple is still growing and proven with numerous real-case use among banks and financial institutions around the world. To name a few of the institutions are Siam Commercial Bank, Santander, MoneyMatch, American Express, Kotak Mahindra, CIMB Bank, Al-Rajhi Bank, MoneyGram, and more.
For Malaysian, XRP is an approved digital asset and available on the approved Digital Asset Exchanges.
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