Cryptocurrencies are digital currencies that operate as a peer-to-peer medium of exchange through a computer network—usually the blockchain. These are cryptographically secured and do not rely on a central authority for management. Although cryptocurrencies such as eCash were already available, it was the launch of Bitcoin that brought this industry to the mainstream.
In addition to a medium of exchange, cryptocurrencies have been considered as an investment vehicle, with new developments such as stablecoins helping reduce the volatility risk associated with the digital asset. Exchanges help users swap their coins for other digital currencies or even fiat and enable access to other cryptocurrency-linked financial products. The increasing adoption of cryptocurrencies has also led many businesses to accept this as a payment method, with many startups emerging to build the infrastructure required to support this. Many central banks are also testing the waters with digital alternatives to their own fiat currencies (Central Bank Digital Currencies [CBDCs]) in partnership with solution vendors.
Note: Currently, we do not actively cover this industry, but we have identified it as a potential industry to add to our coverage.
Ripple provides one frictionless experience to send money globally using the power of blockchain. It offers a global real-time payment system that enables banks and financial institutions around the world to directly transact with each other without the need for a central correspondent. The company also offers FX Market Making, a solution enabling enterprises to gain access to cross-currency liquidity through a distributed network that allows foreign exchange to be externally sourced from a competitive FX marketplace or an internal FX trading desk. This minimizes FX exposure thereby lowering the volatility and counter-party risk of trades. Ripple Insights features industry updates, insider perspectives, and in-depth market analysis.
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