Thomas Daniels
Ripple is advancing its footprint in the Asia-Pacific region with the launch of the XRPL Japan and Korea Fund, targeting blockchain innovation through the XRP Ledger.
Announced on Tuesday, the fund is designed to bolster blockchain initiatives across Japan and Korea, key markets within the Asia-Pacific. This move follows Ripple’s collaboration with Georgia’s national bank to digitize the nation’s economy and the completion of its acquisition of Standard Custody.
XRPL Japan and Korea Fund: A Catalyst for Blockchain Growth
Ripple’s XRP Ledger, a decentralized public blockchain, underpins the XRP cryptocurrency and drives the company’s cross-border payments and remittance services. The new fund is poised to enhance the adoption of XRP and the XRP Ledger by focusing on corporate partnerships, grants for developers, investments in startups, and community engagement.
The XRPL Japan and Korea Fund is part of Ripple’s broader strategy to expand the global crypto and blockchain ecosystem, leveraging the company’s commitment of 1 billion XRP towards this vision. According to Emi Yoshikawa, Ripple’s VP for Strategic Initiatives, Japan and Korea are critical hubs for blockchain innovation.
Ripple’s Financial Commitment: Millions Earmarked for Regional Development
Through this initiative, Ripple will provide financial, technical, and corporate support to developers utilizing the XRP Ledger. The company plans to channel a significant portion of its 1 billion XRP allocation into its XRPL Grants and XRPL Accelerator programs, translating into tens of millions of dollars’ worth of XRP for the initiative. This substantial investment is anticipated to drive the adoption of XRP in Japan and Korea, regions increasingly recognized as crypto innovation centers.
Ripple’s efforts in the region include deploying its XRPL technology in the Japanese supply chain sector through a partnership with Tokyo-based HashKey DX. Additionally, Ripple’s longstanding partnership with SBI Holdings since 2016 has led to the establishment of SBI Ripple Asia, further integrating Ripple’s technology into several banks and financial service providers, positioning XRP for widespread adoption.
