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Ripple Unveils Major Initiative for Japan and South Korea
San Francisco-based blockchain company Ripple did just that exploited in its war chest to launch a new fund aimed at promoting 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 various XRPL projects in April.
According to Ripple executive Emi Yoshikawa, the fund will bring in tens of millions of dollars for investments in corporate partnerships, investments and developer grants over time.
Yoshikawa believes Japan and South Korea have emerged as “vital” regional hubs for blockchain innovation.
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Ripple 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, he started running its validator on the XRP Ledger. Yoshikawa described it as a “huge move” for XRP Ledger.
Projects from Japan and South Korea also managed to secure funding during the seventh wave of the XRPL grant program.