Ripple, the San Francisco-based blockchain company, taken advantage of into its war chest to launch a new fund aimed at promoting the XRP Ledger in Japan and South Korea.
Ripple, the San Francisco-based blockchain company, taken advantage of into its war chest to launch a new fund aimed at promoting the XRP Ledger in Japan and South Korea.
The company has tapped into its 1 billion XRP war chest to support this new initiative. Ripple initially committed the aforementioned sum to several XRPL projects in April.
According to Ripple executive Emi Yoshikawa, the fund will involve tens of millions of dollars over time for investments from corporate partnerships, investments and grants for developers.
Yoshikawa believes that Japan and South Korea have become “pivotal” regional centers for blockchain innovation.
Alex DovbnyaRipple has long been a major force in the Asia-Pacific (APAC) region. Ripple CEO Brad Garlinghouse has repeatedly praised Japan for its XRP-friendly regulations and even floated the idea of moving the company’s global headquarters to Japan.
In April, Ripple expanded its presence in Japan by partnering with Tokyo-based HashKey DX.
In May, SBI VC Trade, the cryptocurrency trading platform of Japanese financial giant SBI Holdings, I started running your validator on the XRP Ledger. Yoshikawa described this as a “big move” for XRP Ledger.
Projects from Japan and South Korea also managed to secure funding during the seventh wave of the XRPL grant program.
