What does XRP Stand For/Mean? - Ripple Opens Office in Chelsea NYC - Upcoming Exclusive Interview!
January 22, 2018
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5:45Now PlayingWhat does XRP Stand For/Mean? - Ripple Opens Office in Chelsea NYC - Upcoming Exclusive Interview!
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as posted by the channelEvery wondered why Ripple names its crypto XRP? Here is an explanation. Threeletter currency codes are formed by appending a single character to the twoletter country code of the issuing country. Since the United States’ country code is “US”, US dollars have the currency code “USD”. Some noncountries still have country codes. The EU has the country code “EU”, so the currency code for Euros is “EUR”.
Of course, XRP is not issued by any country. For assets not issued by any country, the first letter must be X. No country codes starting with X will be issue. So, for example, since the chemical symbol for gold is Au, gold’s currency code is XAU. Some people use “BTC” for bitcoin, but people who care about standards use “XBT”. XRP’s first letter is X because XRP is not issued by any country. In the early days, we called the ledger’s native asset “ripples”. So the natural currency code to choose was “XRP”. Blockchain technology company Ripple, which created the cryptocurrency XRP, is opening an office in Chelsea NYC.
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