Ripple has launched the XRPL Japan and Korea Fund, inviting applications from corporations, developers, and community members to foster blockchain innovation and community growth in Japan and Korea. This initiative, initially unveiled on June 11, 2024, aims to support diverse efforts ranging from business partnerships and startup investments to developer grants and community development. As reported by CNF, this strategic move seeks to catalyze blockchain innovation in both countries.
The XRPL Japan and Korea Fund encourages participation from enterprises, developers, and XRPL community members. It will fund initiatives such as corporate partnerships, startup investments, developer grants, and community expansion. Ripple’s partnerships with leading companies in Korea and Japan will drive integration of XRPL across various industries and explore its potential in business use cases.
Emi Yoshikawa, Ripple’s Vice President of Strategic Initiatives, highlighted, “Korea and Japan hold significant potential to emerge as pivotal regional centers for blockchain development.” With Ripple’s technology already facilitating faster and more cost-effective transactions in Japan, where 80% of banks collaborate on blockchain payments, Ripple is consolidating its position in the Japanese financial sector.
Meanwhile, XRP’s market performance shows positive signs, with its current price around $0.4834, marking a 0.23% increase over the last 24 hours. Over the past seven days, XRP has grown by 2.12%, underscoring growing confidence in Ripple’s activities and the potential impact of the XRPL Japan and Korea Fund.
The launch of the XRPL Japan and Korea Fund represents a significant milestone in Ripple’s efforts to advance blockchain innovation and adoption in Asia.