Page Summary
Ripple Labs Inc. is an American technology company that is working on the Ripple payment protocol. Chris Larsen and Jed McCaleb founded Ripple Labs in 2012 in San Fransisco, California. The idea behind Ripple was to create a decentralized financial system in which individuals could create their own money.
OpenCoin developed the ripple protocol in 2013 and later changed its name to Ripple. Ripple receives most of its funding through the sale of XRP tokens. XRP tokens are cryptocurrencies that traders and investors can buy and sell on cryptocurrency exchanges. Ripple itself holds the majority of XRP tokens.
Apart from selling XRP tokens, Ripple raised funds through Series A, B, and C angel funding. The company has received over a billion dollars in funding in total. Ripple uses this money to further develop the Ripple protocol (RTXP) and the Ripple payment/exchange network.
Ripple Payment Protocol
The Ripple payment protocol is a real-time gross settlement system, currency exchange, and remittance network. It is an open-source protocol that uses blockchain technology to enable the trading of currencies, commodities, and other units of value.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…