A 2013 promotional brochure from Ripple Labs likened XRP to gold, describing the digital asset as a “counterparty-free” vehicle for transferring value within the Ripple network. The historical document, recently shared by crypto researcher SMQKE, provides insight into how Ripple originally introduced XRP and its intended function during the early stages of the XRP Ledger’s development.
2013 Brochure: XRP as a Counterparty-Free Asset
The brochure, titled “XRP as a Vehicle Currency,” features language highlighting XRP as similar to “gold in your hand.” Ripple Labs—the technology company behind the XRP Ledger—specified that XRP operates without a counterparty, distinguishing it from traditional currencies that require an issuing entity or central authority.
Ripple positioned XRP as a bridge currency between payment gateways within its network. According to the excerpt, this role would allow XRP to connect different currency gateways, facilitating the movement of value between users transacting in various fiat currencies.
The brochure offers a comparison between XRP and the US dollar’s function as a global reserve currency in the foreign exchange market. It suggests that, like the US dollar, XRP could serve as a common medium to settle payments and provide liquidity between otherwise isolated currency systems.
XRP in Ripple is described as “like gold in your hand”—a counterparty-free asset that enables transfers between fiat gateways and supports liquidity across the network.
Visual aids included in the document show how XRP could facilitate transfers from a US dollar gateway to a euro gateway, bypassing the need for direct currency pair conversion.
Researcher SMQKE Weighs in on the Gold Analogy
Researcher SMQKE emphasized the significance of this gold comparison, arguing that its inclusion in an official Ripple publication underlines how the company viewed XRP’s unique qualities from the outset. The researcher highlighted that both gold and XRP share the attribute of being independent from counterparty risk.
While gold traditionally serves as a physical commodity and store of value, XRP plays a practical role in digital payments and liquidity provisioning on the XRP Ledger.
SMQKE also stated that Ripple appeared to stop using the gold analogy in its later materials, though it remains unclear whether similar language ever resurfaced in subsequent company documents.
Mini dictionary: Ripple Labs, founded in 2012, is a San Francisco-based tech company focused on creating financial solutions built around the XRP Ledger, an open-source blockchain that underpins the XRP digital asset.
Both gold and XRP do not represent another party’s debt. Instead, each is valued on its own terms—gold as a physical store of value and XRP as a digital asset supporting cross-currency transfers on a global ledger.
Speculation Over Valuation and Market Price
SMQKE contended that current pricing may not fully reflect XRP’s long-term potential, especially if use cases such as payments and cross-currency transfers continue to expand. The researcher pointed to the possibility that increased adoption could drive higher demand, eventually pushing the asset’s price upward.
However, the language in the 2013 brochure does not provide concrete proof regarding XRP’s potential valuation. Analysts have noted that the future trajectory of XRP will likely depend on broader adoption, regulatory clarity, competitive developments within the sector, and the utility of the XRP Ledger in real-world payment scenarios.
