Ripple
Web3 / cefi
Ripple is a fintech company that focuses on enabling fast, low-cost cross-border payments using blockchain technology and the XRP cryptocurrency as a bridge asset. Founded in 2012, Ripple developed the RippleNet protocol and XRP Ledger as alternatives to traditional correspondent banking systems that can take days and charge significant fees for international transfers. The company has worked extensively with banks, payment providers, and financial institutions worldwide to integrate its technology, though it has faced significant regulatory challenges, particularly from the U.S. Securities and Exchange Commission regarding the classification and sale of XRP tokens. Example: In 2020, Ripple partnered with MoneyGram to enable cross-border payment corridors using On-Demand Liquidity (ODL), which utilizes XRP to settle payments between Mexico and the Philippines in seconds rather than the days required by traditional banking infrastructure. Why it matters for CeFi: Ripple demonstrates how blockchain technology can optimize traditional financial infrastructure by reducing settlement times and costs for international payments, directly challenging established banking system inefficiencies.
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