Ripple bids for dominance in Asia with new blockchain fund

As a long-term crypto investor with a keen interest in the Asian market, I’m excited about Ripple’s latest move to launch the XRPL Japan and Korea Fund. This strategic investment in two of the most pivotal regional hubs for blockchain innovation aligns perfectly with Ripple’s mission to promote crypto and blockchain ecosystems globally.

Ripple is eyeing further growth in the Asia-Pacific region with a new fund for Japan and Korea.

On Tuesday, the company revealed that the XRPL Japan and Korea Fund, which is spearheaded by XRPL Japan and Korea, aims to foster blockchain innovation in the Asian region through the use of the XRP Ledger. This announcement follows Ripple’s recent partnership with Georgia’s national bank to advance digitalization in the country’s economy. Additionally, the company disclosed that it has completed the acquisition of Standard Custody.

Ripple launches new Japan and Korea fund

The XRP Ledger by Ripple is a decentralized, publicly accessible blockchain specifically designed for commercial applications and serves as the foundation for the digital currency, XRP.

Ripple’s cross-border payment and remittances system relies heavily on XRP and XRPL. The establishment of a new Asia-focused investment fund by the company could lead to increased usage of these technologies. This fund aims to support initiatives like corporate collaborations, developer grants, startup investments, and community development.

The XRPL Japan and Korea Fund shares Ripple’s mission of fostering cryptocurrency and blockchain adoption worldwide. It will utilize Ripple’s pledged 1 billion XRP towards achieving this goal.

Japan and Korea play a crucial role as significant centers for the advancement of blockchain technology within their regions, according to Emi Yoshikawa, Ripple’s Vice President for Strategic Initiatives.

XRP boost? Ripple to invest millions in regions

In my role as a researcher involved in this project, I can share that Ripple offers developers working with the XRP Ledger comprehensive assistance in the financial, technical, and corporate realms.

The company intends to utilize its XRPL Grants and XRPL Accelerator initiatives to extend these advantages, with a substantial portion of the 1 billion XRP set aside for this purpose.

Ripple is set to inject tens of millions of dollars’ value of XRP into this project, potentially accelerating the use of cryptocurrency in emerging crypto markets.

In the region, Ripple has made significant strides, such as deploying its XRPL technology in Japan’s supply chain sector through a collaboration with HashKey DX based in Tokyo.

Since 2016, the company has collaborated with financial giant SBI Holdings, leading to the creation of SBI Ripple Asia. Numerous banks and financial institutions have also entered into agreements with Ripple, which could significantly boost XRP‘s usage.

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2024-06-11 18:10