Ripple is a real-time gross settlement system (RTGS), currency exchange, and remittance network built on a distributed open-source protocol. Ripple supports fiat currencies, cryptocurrencies, commodities, and other forms of payment (e.g., frequent flyer miles or mobile minutes). Ripple’s platform uses a distributed consensus ledger, dubbed the XRP ledger, to facilitate payments, exchanges, and remittance via its native cryptocurrency, XRP. The total supply of 100 billion XRP was released at launch, with roughly 60% held by Ripple Labs today, most of which is locked in escrow contracts. Ripple transfers require little-to-no confirmation time, and claim near-free global financial transacting capability with no chargeback threat.