Ripple (XRP) Launches Fund to Boost Innovation on XRP Ledger in Japan and Korea
Joerg Hiller Jun 11, 2024 14:05
Ripple (XRP) introduces XRPL Japan and Korea Fund to support blockchain innovation and community growth.
Ripple (XRP) Unveils XRPL Japan and Korea Fund
Ripple has announced the launch of the XRPL Japan and Korea Fund, aimed at fostering innovation on the XRP Ledger (XRPL) in Japan and Korea. According to Ripple, this initiative will support a variety of projects, including corporate partnerships, developer grants, startup investments, and community growth in both countries.
Key Initiatives and Support
The fund will collaborate with leading companies to integrate the XRP Ledger into various industries and provide funding and technical support to promising projects. Early-stage companies leveraging the XRP Ledger will also receive investment, while local events, hackathons, and educational programs will be supported to engage and grow the XRPL communities in Japan and Korea.
This initiative is part of Ripple’s commitment to advance XRPL projects through its 1 Billion XRP commitment. A significant portion of this funding, amounting to tens of millions of dollars, will be directed towards opportunities in Japan and Korea.
Statements from Ripple Executives
Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, emphasized the company’s belief in Japan and Korea as pivotal hubs for blockchain innovation. “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation,” said Yoshikawa. “It also underscores our unwavering commitment to fostering innovation in the local XRP Ledger communities, and we look forward to seeing the transformative impact of this fund in these vibrant markets.”
Existing Partnerships and Future Plans
Japan and Korea are already home to some of the most vibrant and rapidly growing XRPL communities globally, supported by strong institutional partnerships and a growing number of innovative startups. Notably, Wave 7 of the XRPL Grants program saw Japan- and Korea-based projects, VWBL and Moai Finance, receiving funding to continue their developments on the XRP Ledger.
VWBL (Japan) focuses on utilizing NFTs to encapsulate encrypted data to authenticate real-world scenarios. Moai Finance (Korea) is developing a multi-chain decentralized exchange (DEX) and cross-chain DEX aggregator to improve asset liquidity and utility within the XRPL community.
Ripple’s established partnerships in the region include a joint venture with SBI Holdings, which has been instrumental in promoting Ripple Payments solutions. Additionally, earlier this year, Ripple entered into a strategic partnership with HashKey DX to introduce XRP Ledger-powered enterprise solutions to the Japanese market. The XRP Ledger will also be used for issuing official Expo NFTs at the World Expo 2025 in Osaka, Japan.
Upcoming Events and Community Engagement
To further demonstrate its commitment, Ripple’s key executives will be attending and speaking at major industry events in August and September, such as WebX Asia in Japan and Korea Blockchain Week. Ripple will also host community events in Seoul and Tokyo in early September, providing opportunities for local developers to learn more about the XRPL Japan and Korea Fund.
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