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Ripple Unveils New Fund to Foster Blockchain Innovation in Japan and South Korea

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Ripple has announced the launch of a dedicated fund to drive blockchain innovation in Japan and South Korea, marking a significant expansion of its presence in the Asia-Pacific region. The fund aims to support a variety of initiatives including corporate partnerships, developer grants, startup investments, and community growth, specifically focusing on the XRP Ledger, an open-source, public blockchain.

Ripple has announced the launch of a dedicated fund to drive blockchain innovation in Japan and South Korea, marking a significant expansion of its presence in the Asia-Pacific region. The fund aims to support a variety of initiatives including corporate partnerships, developer grants, startup investments, and community growth, specifically focusing on the XRP Ledger, an open-source, public blockchain.

Emi Yoshikawa, Ripple’s Vice President of Strategic Initiatives, emphasized the strategic importance of the new fund. “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and South Korea as pivotal regional hubs for blockchain innovation,” Yoshikawa said in a statement.

The announcement comes amid challenging regulatory conditions for the crypto industry in the United States. Ripple CEO Brad Garlinghouse recently highlighted the “hostile regulatory environment” in the U.S., which has prompted the company to focus on expanding its operations in more favorable regions.

Ripple has been steadily increasing its footprint in Asia-Pacific, which it describes as one of its fastest-growing regions. Last year, Ripple reiterated its commitment to the region, emphasizing the prioritization of crypto payment services. In line with this strategy, Ripple partnered with Tokyo-based HashKey DX in April to introduce XRPL-powered supply chain finance solutions to the Japanese market.

Furthermore, Ripple established SBI Ripple Asia in 2016, a joint venture with Japanese financial services company SBI Holdings, to promote the adoption of Ripple payment solutions across the region. The company continues to build on these efforts with its latest initiative, the XRPL Japan and Korea Fund.

The fund is part of Ripple’s broader commitment to allocating 1 billion XRP to provide financial, technical, and business support for developers. This commitment, announced in March 2022, underscores Ripple’s dedication to fostering innovation and growth within the blockchain ecosystem.

In addition to these efforts, the XRP Ledger is set to play a significant role in the upcoming World Expo 2025 in Osaka, Japan. Ripple has announced that official Expo NFTs, which are unique virtual objects such as artwork, audio, or videos verified using blockchain technology, will be issued on the XRP Ledger for millions of attendees.

Ripple‘s expansion in Asia-Pacific is further supported by its regulatory successes. In October, Ripple obtained a full license to operate in Singapore, solidifying its base of operations established in the city-state since 2017. This move has positioned Ripple favorably in the region, allowing it to continue its growth and development initiatives.

In addition to its activities in Asia, Ripple has announced plans to launch a U.S. dollar stablecoin. Monica Long, Ripple’s President, indicated that this initiative is likely to materialize within the year, marking another milestone in the company’s ongoing expansion and innovation efforts.

Despite the regulatory hurdles in its home market, Ripple remains committed to advancing its technology and services globally. The company’s recent legal victory, where the U.S. Securities and Exchange Commission dropped claims against Garlinghouse and co-founder Chris Larsen in a 2020 lawsuit, has provided a boost to Ripple’s ongoing efforts to expand and innovate within the blockchain space.

The launch of the Japan and Korea fund underscores Ripple’s strategic focus on regions that present significant opportunities for blockchain technology, reinforcing its vision of a globally interconnected financial system powered by blockchain.

As Ripple continues to navigate the complex regulatory landscape and pursue growth opportunities, its commitment to innovation and regional development remains unwavering. The new fund is a clear indication of Ripple’s determination to lead the way in blockchain innovation in Japan, South Korea, and beyond.




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