Ripple Announces XRPL Japan and Korea Fund to Support Blockchain Innovation

Ripple Announces XRPL Japan and Korea Fund to Support Blockchain Innovation

by June 11, 2024

Ripple, an enterprise blockchain and crypto solutions entity, has announced the launch of the XRPL Japan and Korea Fund to support innovation on the XRP Ledger (XRPL) in Japan and Korea.

The XRPL Japan and Korea Fund will support various initiatives to foster the use and development of the XRP Ledger in both countries.

These initiatives include collaborations with companies in Japan and Korea to explore enterprise use cases, funding and support for promising projects, investments in early-stage companies, and support for local events, hackathons, and educational programs.

This fund is part of Ripple’s 1 Billion XRP commitment to providing financial, technical, and business support for developers working on the XRP Ledger through the XRPL Grants and XRPL Accelerator programs.

A significant portion of this commitment will focus on opportunities in Japan and Korea, amounting to tens of millions of dollars over time.

Japan and Korea have active XRP Ledger communities, which are supported by institutional partnerships, regulatory frameworks, and numerous startups in the blockchain sector.

Recently, the XRPL Grants programme’s Wave 7 funded VWBL, based in Japan, and Moai Finance, based in Korea, for their projects on the XRP Ledger.

VWBL, the ‘Viewable’ Protocol in Japan, uses NFTs to encapsulate encrypted data for real-world applications such as medical exams. Moai Finance in Korea is developing a multi-chain decentralized exchange and cross-chain DEX aggregator to improve asset liquidity within the XRP Ledger community.

Over the years, Ripple has established several partnerships in Japan and Korea. In 2016, It partnered with SBI Holdings to create SBI Ripple Asia, a joint venture promoting Ripple Payments solutions in the region.

Earlier this year, Ripple partnered with HashKey DX to introduce XRP Ledger-powered enterprise solutions to the Japanese market. The XRP Ledger will also issue official Expo NFTs at the World Expo 2025 in Osaka, Japan.

Ripple’s executives will attend and speak at industry events such as WebX Asia in Japan and Korea Blockchain Week. In early September, Ripple will host community events in Seoul and Tokyo to provide information about the XRPL Japan and Korea Fund and support local XRP Ledger projects.

Featured image credit: Edited from Freepik