RippleNet
Crypto ProtocolRippleNet — rebranded "Ripple Payments" in late 2023 — is Ripple's global network of financial institutions that settle cross-border payments using Ripple's technology, with XRP as an optional bridge asset.
RippleNet is Ripple's enterprise payments network, connecting banks and payment providers so they can send money across borders on Ripple's infrastructure instead of the traditional correspondent-banking chain. In December 2023 Ripple folded the RippleNet brand into its "Ripple Payments" product line; "RippleNet" persists as the ecosystem's informal name for the same network (the underlying API is still referenced as the RippleNet API).
On-Demand Liquidity (ODL) is the specific feature that uses XRP as a bridge asset. Instead of pre-funding foreign-currency (nostro/vostro) accounts, a payment is converted into XRP, moved across the XRP Ledger in seconds, and converted into the destination currency on arrival, freeing the capital that would otherwise sit trapped in overseas accounts.
Ripple says RippleNet has been aligned with ISO 20022 since the start, and RippleNet appears on ISO's Registration Management Group member list as the first DLT-focused member (Ripple announced the membership in June 2020). The RMG seat belongs to RippleNet, not to the XRP token. Ripple also issues RLUSD, a US-dollar stablecoin, but ODL specifically is the XRP-bridging mechanism.
Crypto Relevance
RippleNet is the part of Ripple's business that appears on ISO's Registration Management Group member list (archived March 2026), and ODL is its XRP-bridging feature. The RMG seat belongs to RippleNet, not to the XRP token.
Related Terms
ODL
ODL (On-Demand Liquidity) is Ripple's cross-border payment product that uses XRP as a real-time bridge currency to eliminate pre-funded nostro accounts.
XRPL
XRPL (XRP Ledger) is the open-source ledger that XRP runs on, which xrpl.org says settles transactions in about 3-5 seconds for fractions of a cent.
XRP Payments Module
XRP's designated role in ISO 20022 coin lists is as a bridge asset for cross-border payments, via Ripple's On-Demand Liquidity, with the ISO 20022 tie sitting at RippleNet rather than the token.
SWIFT gpi
SWIFT gpi is the cross-border payment tracking layer that adds a unique end-to-end transaction reference (UETR) to every payment message.
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Last updated: 2026-09-29