Ripple (payment protocol)
Real-time gross settlement system / From Wikipedia, the free encyclopedia
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Ripple is a real-time gross settlement system, currency exchange and remittance network that is open to financial institutions worldwide and was 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.
Original author(s) | Arthur Britto, David Schwartz, Ryan Fugger |
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Developer(s) | Ripple Labs Inc. |
Initial release | 2012 |
Stable release | |
Repository | |
Written in | C++ |
Operating system | Server: Linux (RHEL, CentOS, Ubuntu), Windows, macOS (development only) |
Type | Real-time gross settlement, currency exchange, remittance |
License | ISC license |
Website | ripple |
In December 2020, Ripple Labs and two of its executives were sued by the U.S. Securities and Exchange Commission (SEC) for selling XRP tokens, which the SEC classified as unregistered securities.[3] In July 2023, the court ruled that "XRP, as a digital token, is not in and of itself a 'contract, transaction, or scheme' that embodies the Howey requirements of an investment contract."[4]