XRP has long been hailed as the digital asset with a use-case, owing to Ripple, the company, utilizing it for cross-border payments in its xRapid payments solution. However, XRP has also gained a bevy of third-party utilization, such as the XRP Tip Bot by developer Wietse Wind, and Coil, a service that aims to monetize content on the Internet using microtransactions.
Dilip Rao, the Global Head for Infrastructure Innovation at Ripple, spoke about the latter at the Global Islamic Economic Summit in Dubai. He also spoke about how XRP was compliant with Sharia law, the regulatory approach taken by countries in the Middle East. He stated: