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Ryan Fugger created RipplePay in Vancouver, Canada in 2004 as a way to securely move money around the world. RipplePay was the first version of the platform, which still runs today and operates with both virtual and traditional currency. In 2012, Fugger sold RipplePay to Jed McCaleb, Arthur Britto, and David Schwartz, who renamed the company OpenCoin and transformed it into a digital currency network. The three men agreed to combine Fugger's RipplePay network with McCaleb's digital currency system. In 2013, the company was renamed Ripple Labs and then shortened to just "Ripple" in 2015.