In early 2011, three developers — David Schwartz, Jed McCaleb and Arthur Britto — were attracted by Bitcoin but aware of the waste associated with mining. They aimed to develop a more sustainable way of sending value. By June 2012, Schwartz, McCaleb and Britto had completed code development, and the ledger was ready.

According to historical facts supplied by the official XRPL website, once $XRPLedger was live, 80% of $XRPwas gifted to a new company called New