Cryptocurrencies were not originally conceived to be market instruments to be traded in the global financial markets. They were originally conceived as solutions to existing problems within particular ecosystems. Within the global financial sector, there exists an ecosystem which is concerned with cross-border payments and remittances.

These have traditionally been handled at the level of commercial banks and third-party money transfer companies. However, this system of global remittances and payments has been riddled with specific challenges. It is these challenges that have led to the conceptualization of a cryptocurrency known as Ripple (XRP).

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