Ripple has launched a new XRPL Japan and Korea fund, with the aim of supporting the innovation of the XRP Ledger for those markets. From what has emerged, the amount dedicated to this fund will be in the tens of millions of dollars.
Summary
Ripple: the new XRPL Japan and Korea fund that supports the innovation of XRP Ledger
Ripple has announced the launch of its new XRPL Japan and Korea Fund to support innovation of the XRP Ledger in the dynamic Japanese and Korean markets.
“We are proud to launch the XRPL Japan and Korea Fund to promote innovation and utility of #XRPL in APAC! It includes: Corporate partnerships; Grants for development projects; Investments in startups; Community growth.”
The amount that Ripple has dedicated to this fund is part of the 1 billion XRP, coming from the funds dedicated to XRPL Grantsi and XRPL Accelerator. In the specific case of the Japan and Korea market, the dedicated fund will be tens of millions of dollars.
The general commitment of the Ripple fund primarily serves to provide financial, technical, and commercial support to developers building on the XRP Ledger.
Not only that, the XRPL Japan and Korea Fund will provide support to a series of solid initiatives to promote innovation on the XRP Ledger in both countries.
Among others, Ripple cites corporate partnerships to explore use cases of XRP Ledger in various sectors, investments in startups and also the growth of the community with local events, hackathons, and educational programs.
Ripple dedicates the new fund for the integration of XRP Ledger in Japan and Korea
At the moment, both Japan and Korea already host some of the XRP Ledger communities, defined as among the most vibrant and rapidly growing globally.
In this regard, Emi Yoshikawa, vice president of strategic initiatives at Ripple, said:
“The launch of this fund testifies to Ripple’s strong confidence in the potential of Japan and Korea as fundamental regional hubs for blockchain innovation. It also underscores our ongoing commitment to promoting innovation in the local XRP Ledger communities, and we look forward to seeing the transformative impact of this fund in these vibrant markets”.
Only in this 2024, Ripple has already approached these two markets by supporting projects that use XRP Ledger.
Specifically, announced in May 2024, Wave 7 of the XRPL Grants program saw projects based in Japan and Korea, VWBL and Moai Finance, secure funding to continue building and scaling on the XRP Ledger.
The Oro and Argento tokens developed on XRPL
Recently, the digital finance company, Meld Gold, announced that it will launch the Gold and Silver tokens developed on XRP Ledger (XRPL).
In practice, the company would have chosen the XRPL to tokenize gold and silver, as part of the rapidly growing market of Real World Asset (RWA).
In the third quarter of 2024, the stablecoins anchored to gold and silver, developed on XRPL, will therefore be launched.
