Ripple is an enterprise currency remittance and settlement network, facilitating rapid transactions between a variety of tokenized commodities, fiat currencies, and cryptocurrencies. Trusted gateways, which are primarily established financial institutions and cryptocurrency exchanges, can issue assets and facilitate liquidity on the network. The Ripple payment network finds the most efficient exchange path between two assets, and the native token (XRP) functions as a universal bridge currency when there is no direct exchange available. Ripple is a permissioned blockchain, in which transactions are validated primarily by a curated consortium of regulated financial institutions. The network is developed by Ripple Labs, founded by Chris Larsen and Jed McCaleb, which controls 80% of the total XRP supply.