Product Update: XRP added to the CL Platform

We have some great news for our CL customers!

We’re thrilled to announce that XRP is now available to fund on the CL Platform.

Our customers can now enjoy faster transactions with lower fees when spending with the CL Card powered by Ledger.

And if you missed the news before, we also introduced Litecoin (LTC) to the platform in September.

Here’s what you need to know about our latest additions

What is Ripple (XRP)?

XRP is the native token of Ripple — a blockchain-based digital payment network.

First launched in 2012, XRP is used within the Ripple network to facilitate fast, low-cost transactions — making it one of the most popular choices for cross-border transactions. It’s also hailed for its high liquidity and ability to handle a high volume of transactions.

XRP is not mined like Bitcoin. Instead, a set amount of XRP was created when the network was launched, and no new XRP can be created. The total supply of XRP is capped at 100 billion.

What is Litecoin (LTC)?

LTC is a decentralised peer-to-peer cryptocurrency we introduced to the CL Platform in September.

LTC launched in 2011 and was adapted from Bitcoin’s open-source code but with a few modifications. This includes faster block generation and its use of the proof-of-stake (PoS) mechanism as opposed to Bitcoin’s proof-of-work (PoW). For this, LTC was announced to be the “lite version of Bitcoin” during its debut.

Like most cryptocurrencies, LTC is used to transfer funds directly between individuals quickly and at a low cost.

How can I use these tokens with CL?

Check out our table below for all you need to know.