Summary
- Upbit and Bithumb announced that they would change the name of the cryptocurrency Ripple (XRP) to 'XRP'.
- Ripple requested this name change to avoid using the company name when referring to XRP.
- XRP is described as a decentralized cryptocurrency operating on the open-source blockchain network XRP Ledger.
The cryptocurrency Ripple (XRP), which has a high trading volume among domestic investors, will change its name to 'XRP' on exchanges.
On the 7th, Upbit announced that it would change the Korean name of Ripple to 'XRP' and the English name from 'Ripple' to 'XRP'. Bithumb also posted the same announcement on the same day.
This name change is due to a request from Ripple. Ripple, a company providing cryptocurrency infrastructure, recently asked all exchanges to list or mention the cryptocurrency as 'XRP' instead of 'Ripple'.
Ripple explained, "We want to prevent the mixing of the names of the cryptocurrency XRP and the company Ripple," adding, "XRP is a decentralized cryptocurrency operating on the open-source blockchain network XRP Ledger. The company Ripple utilizes this XRP in its products."
Reporter Yisongryeol, Hankyung.com yisr0203@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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