Fintech company Ripple is celebrating its 13th anniversary, having launched in September 2012, with the crypto community celebrating this milestone.
Uphold crypto exchange celebrated this Ripple milestone in a tweet, which contained hashtags of XRP and RLUSD.
XRP Ledger was first launched in June 2012 by the trio of David Schwartz, Jed McCaleb and Arthur Britto, who began its development in 2011. Joined by Chris Larsen, the group started the Company NewCoin in September 2012 (which was renamed OpenCoin and now Ripple).
The XRP Ledger code was originally named Ripple, explaining how the name Ripple came to be. At its start, the ledger included a digital asset that would originally be called “Ripples” (XRP as the currency code) to follow the same naming convention as Bitcoin (BTC). At the time, the name Ripple stood for the open-source project.
In early discussions with potential customers, the team was asked about the differences between the Ripple project and the OpenCoin company. With the community starting to refer to the digital asset as XRP, it was decided in 2013 to rebrand the OpenCoin company to Ripple Labs, which has since been shortened to “Ripple.”
Uphold spotlights XRP, RLUSD
In a separate tweet, Uphold highlighted recent developments surrounding XRP and RLUSD.
The first-ever U.S. spot XRP ETF (XRPR) officially launched this week, marking a major milestone for mainstream adoption.
This week, Ripple announced a partnership with DBS Bank and Franklin Templeton to establish repo markets powered by tokenized collateral and stablecoins.
Investors will be able to use RLUSD to trade for Franklin Templeton’s money market fund, sgBENJI, which is listed on DBS’s digital exchange and tokenized on XRP Ledger, earning yield and opening new liquidity venues.