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Ripple is a global payment network system created in 2012 and its crypto unit is XRP. Ripple is a platform that allows any currency to be sent to any country and city within seconds with reasonable shipping rates. The platform was created to compete with companies such as Western Union. For example; When you want to send money to someone in Nigeria, you can provide instant shipping with Ripple at affordable prices instead of waiting for days and paying quite a lot of shipping costs. Your money sent to the person you send as XRP is loaded into the Ripple wallet of the person in seconds and can be converted to its own currency at any time. Ripple is the third largest sub-coin after bitcoin and ethereum among crypto currencies. We mentioned that all cryptocurrencies are decentralized.

However, unlike all cryptocurrencies, Ripple is a centralized platform. All transactions made are recorded on the blockchain, but this ledger is kept under control by a certain company. There is no mining concept in the Ripple system. It produces and circulates a certain number of Ripple by the company. There is no understanding of mining and production by people in other crypto money systems. Fully all controls and productions are carried out by the company. Compared to Bitcoins, Ripple has less shipping commission fees. The fact that it is a centralized system and managed by a company has made it preferred by banks. Akbank is only one of the banks that has an agreement with Ripple in Turkey.