XRPL
Crypto ProtocolXRPL (XRP Ledger) is the open-source public blockchain that XRP runs on, settling transactions in 3-5 seconds at a cost of fractions of a cent.
The XRPL is a decentralized blockchain maintained by a network of validators using Federated Byzantine Agreement (FBA) consensus. Unlike Proof-of-Work or Proof-of-Stake systems, FBA requires a supermajority of trusted validators to agree on each ledger close, achieving finality in 3-5 seconds without mining.
Key characteristics: ~1,500 transactions per second native throughput (higher with Hooks and sidechains), fees that are destroyed (burned) rather than paid to validators, and a native DEX (decentralized exchange) built into the protocol for atomic cross-currency swaps.
The XRPL has published ISO 20022 message mapping specifications, meaning XRPL transactions can be encoded in and decoded from standard ISO 20022 message fields. This is the technical foundation that allows XRP to operate inside CBPR+-compliant payment corridors without the financial institution needing to understand blockchain technology.
Crypto Relevance
The XRPL's 3-5 second finality and near-zero cost directly address the two biggest problems in cross-border payments: speed (MT103 takes 1-5 days) and cost (international wire fees average 6% for retail).
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Join ISO 20022 investorsRelated 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.
XRP Payments Module
XRP's designated role in ISO 20022 is as a real-time bridge currency for cross-border payment settlement, targeting the replacement of nostro pre-funding via ODL.
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Last reviewed: 2026-05-17