Is XRP a coin or a token?

XRP tokens XRP – which is the actual cryptocurrency – is a token which is used on the Ripple network to facilitate transfers of money between different currencies. Existing settlement systems generally use US dollars as a common currency for converting between other currencies.

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Why would banks use XRP?

Ripple’s xRapid offering provides on-demand liquidity for financial institutions, lowering their liquidity costs and improving their customer experience . Ripple’s xVia allows banks and other corporations to send global payments across various networks using one standard interface.

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How safe is Ripple XRP?

XRP transactions are fast and cheap. Ripple’s consensus protocol is arguably less secure than other methods of processing crypto transactions . Ripple’s payment network is already being used by financial institutions. Many of Ripple’s banking partners only use RippleNet and not its XRP cryptocurrency.

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