San Francisco-based blockchain company Ripple has launched a new fund to promote the XRP Ledger in Japan and South Korea, drawing from its 1 billion XRP war chest initially committed to various XRPL projects in April.
Emi Yoshikawa, a Ripple executive, stated that the fund will allocate tens of millions of dollars over time to corporate partnerships, investments, and developer grants.
Yoshikawa emphasized that Japan and South Korea have become key regional hubs for blockchain innovation.
Ripple has been a significant player in the Asia-Pacific (APAC) region, with CEO Brad Garlinghouse frequently praising Japan’s XRP-friendly regulations and even considering relocating the company’s global headquarters there.
In April, Ripple strengthened its presence in Japan by partnering with Tokyo-based HashKey DX.
In May, SBI VC Trade, a cryptocurrency trading platform under Japanese financial giant SBI Holdings, began running its validator on the XRP Ledger, which Yoshikawa described as a “huge move” for the ledger.
Additionally, projects from Japan and South Korea received funding during the seventh round of the XRPL Grants program.
Image Credit: Pixabay
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