🌎 Ripple Unveils XRPL Japan and Korea Fund to Boost Blockchain Innovation

Ripple is set to expand its footprint in the Asia-Pacific region with a newly announced fund specifically for Japan and Korea. The company revealed the XRPL Japan and Korea Fund, aimed at fostering blockchain innovation in these regions through the XRP Ledger. This announcement follows Ripple’s recent collaboration with Georgia’s national bank to advance the country’s economic digitization and the acquisition of Standard Custody.

Ripple Launches New Japan and Korea Fund

The XRP Ledger is a decentralized, public blockchain designed for business applications and underpins the XRP cryptocurrency. XRP and the XRPL are crucial components of Ripple’s ecosystem for cross-border payments and remittances. The introduction of the Asia-focused fund aims to drive further adoption of these technologies.

The fund will support various initiatives including corporate partnerships, grants for developers, startup investments, and community growth. This aligns with Ripple’s global mission to enhance crypto and blockchain ecosystems, leveraging its commitment of 1 billion XRP to this vision.

Emi Yoshikawa, Ripple VP for strategic initiatives, emphasized that Japan and Korea are “pivotal regional hubs for blockchain innovation” and integral to Ripple’s global objectives.

XRP Boost? Ripple to Invest Millions in Regions

Ripple plans to provide substantial support to developers working on the XRP Ledger, including financial, technical, and corporate assistance. The company will utilize its XRPL Grants and XRPL Accelerator programs to deliver these benefits, with a significant portion of the 1 billion XRP allocated for this purpose.

This initiative will see Ripple investing tens of millions of dollars’ worth of XRP, potentially boosting its adoption in Japan and Korea, which are emerging as key crypto hubs.

Among Ripple’s recent efforts in the region is the deployment of its XRPL technology in the Japanese supply chain market, achieved through a partnership with Tokyo-based HashKey DX. Additionally, Ripple has been collaborating with financial giant SBI Holdings since 2016 through their joint venture, SBI Ripple Asia. Several banks and financial service providers in the region have also entered into agreements with Ripple, which could significantly enhance the adoption of XRP.