XRP (XRP)

XRP (ticker: XRP) is the native asset of the XRP Ledger, a public blockchain that launched in 2012 and settles transactions in about three to five seconds for a fraction of a cent. Unlike proof-of-work networks, the XRP Ledger reaches agreement through a consensus protocol run by a set of independent validators.

XRP is one of the largest crypto assets by market capitalization and trades with deep liquidity across major exchanges. Two mechanics distinguish it from Bitcoin and Ethereum in practice. The smallest unit is a drop, one millionth of an XRP, so amounts are never quoted beyond six decimal places. And exchanges and custodians commonly receive XRP at a shared address, using a destination tag to identify which account a deposit belongs to. A deposit sent without the required tag can be difficult or impossible to recover.

Why it matters for Milo customers

XRP is accepted as collateral for Milo's crypto loan. It is not eligible collateral for any Milo mortgage product. Loan terms follow the standard crypto loan: a 50% loan-to-value ratio, so you pledge roughly twice the loan amount in XRP, with the collateral held in segregated qualified custody and returned to you at payoff. When you deposit, include the destination tag shown on your deposit screen. That is what routes the funds to your loan.

Related terms

Bitcoin (BTC)Ethereum (ETH)Crypto CollateralDestination Tag
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