Ripple is a private company dedicated to creating a global network of financial institutions and banks. It does so by using RippleNet blockchain software to lower the cost of international payments. Ripple calls this global web the "internet of values".
The term Ripple is often used to describe the XRP digital currency, which is the open payment network in which that currency is transferred, as well as the holding company behind the entire project.
Ripple is fundamentally opposed to what they call "gated gardens" of financial networks made up of banks, credit cards, and other institutions such as PayPal. These organizations tend to restrict money flow with fees, currency exchange fees, and processing delays.
The XRP Registry is an open-source product created by Ripple. It was created to solve the main problem related to international payments, which is the pre-financing of nostro / vostro accounts. Banks can use XRP to obtain liquidity in real time. Payment providers can also use it to extend coverage to new markets, provide faster payment settlements, and lower currency conversion costs.