XRP (XRP) is a digital payments network built on the blockchain that acts as a payment and remittance platform for international money transfers and exchanges.

XRP and its network of products allow users to send money internationally at extremely low costs and high speeds, which initially attracted the attention of both retail and institutional customers seeking a simpler method of payment.

It works as an open-source and peer-to-peer decentralised platform and enables users to send major global currencies like USD and GBP alongside cryptocurrencies such as BTC and ETH quickly on a global basis.

XRP’s underlying blockchain, the ‘XRP Ledger’, is powered by its native token, XRP. The XRP token acts as an intermediary asset when transfers take place on the blockchain and also works as an additional settlement layer before transactions are completed.

XRP was due to be a viable alternative to the SWIFT system, which is used globally by banks and financial services to settle payments.