Ripple's Founding Story How XRP Was Created
The origin story of Ripple and XRP — from OpenCoin to Ripple Labs, and the early days.
XRP was created in 2012 by David Schwartz, Jed McCaleb, and Arthur Britto. They built a faster alternative to Bitcoin. The company (initially OpenCoin, then Ripple Labs) was co-founded with Chris Larsen. 80 billion XRP was given to Ripple; 20 billion to founders.
| Key Facts | |
|---|---|
| Created | 2012 |
| Founders | Schwartz, McCaleb, Britto |
| CEO | Chris Larsen (orig) |
| Company | OpenCoin → Ripple |
| Total Supply | 100 billion |
| To Ripple | 80 billion |
The Origin of XRP
In 2011, David Schwartz, Jed McCaleb, and Arthur Britto began building an alternative to Bitcoin — faster, more energy-efficient, and designed for payments. By 2012, the XRP Ledger was live.
The Founders
David Schwartz
Chief architect. Still CTO of Ripple. 'JoelKatz' online. Cryptography veteran.
Jed McCaleb
Co-creator. Previously founded Mt. Gox. Left in 2013 to create Stellar.
Arthur Britto
Co-architect. Low-profile. Helped design XRPL consensus and XRP economics.
Chris Larsen
Joined as CEO. Serial fintech entrepreneur. Provided business direction.
OpenCoin to Ripple
The company was incorporated as OpenCoin in 2012, then renamed to Ripple Labs in 2013 (later just "Ripple"). The focus: using XRP to power cross-border payments.
XRP's Creation
100 billion XRP were created at genesis — all at once. No mining. 80 billion given to the company (now largely in escrow). 20 billion split among the three creators.
| Allocation | Amount | Notes |
|---|---|---|
| Ripple Labs | 80 billion | 55B locked in monthly escrow |
| David Schwartz | ~7 billion | Estimated |
| Jed McCaleb | ~9 billion | Sold over time per agreement |
| Arthur Britto | ~4 billion | Estimated |
Key Timeline
2011
Schwartz, McCaleb, Britto begin building the XRP Ledger.
2012
XRP Ledger launches. OpenCoin incorporated.
2013
Renamed Ripple Labs. McCaleb departs, founds Stellar.
2015
Ripple signs first bank partnerships.
2017-18
XRP reaches $3.84 ATH during crypto mania.
2020
SEC sues Ripple. Industry-defining legal battle begins.
2023
Judge Torres rules XRP not a security on exchanges.
Frequently Asked Questions
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Learn XRP's History
Understanding the origin helps you understand the mission.
Last updated: February 15, 2026. Written by the AllAboutXRP Editorial Team.
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