Ripple launches fund to accelerate innovation on the XRP Ledger in Japan and Korea. Source: Shutterstock.com

Ripple has launched the XRPL Japan and Korea Fund, dedicated to supporting innovation on the XRP Ledger (XRPL) in the dynamic Japanese and Korean markets.  

The XRPL Japan and Korea Fund will provide support for a range of robust initiatives to foster innovation on the XRP Ledger in both countries.

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This includes corporate partnerships, developer grants, startup investments and community growth

The XRPL Japan and Korea Fund is part of Ripple’s 1 Billion XRP commitment to provide financial, technical, and business support for developers building on the XRP Ledger – through both the XRPL Grants and XRPL Accelerator programs. A significant portion of the 1B XRP will be targeted towards exciting opportunities specifically in Japan and Korea amounting to tens of millions of dollars over time.  

Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, said: “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation. It also underscores our unwavering commitment to fostering innovation in the local XRP Ledger communities, and we look forward to seeing the transformative impact of this fund in these vibrant markets.” 

Japan and Korea are already home to some of the most rapidly growing XRP Ledger communities globally

This is underpinned by strong institutional partnerships, progressive and proactive regulatory frameworks, and a growing number of innovative startups in the blockchain industry.

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Wave 7 of the XRPL Grants program saw Japan- and Korea-based projects, VWBL and Moai Finance, being awarded funding to continue building and scaling on the XRP Ledger. 

VWBL (Japan): The ‘Viewable’ Protocol, VWBL, focuses on utilising NFTs to encapsulate encrypted data to authenticate real-world scenarios, such as medical exams. VWBL is an on-chain condition-based access control protocol and key management network that operates across multiple blockchains. Its core features include enabling NFTs to securely carry encrypted external data, granting access to this data to users who meet specific conditions, and a decentralised and trustless architecture. 

Moai Finance (Korea): Moai Finance is developing a multi-chain decentralised exchange (DEX) and cross-chain DEX aggregator to improve asset liquidity and utility within the XRP Ledger (XRPL) community. Their flagship product is an automated market maker (AMM)-based decentralised protocol that enables seamless swapping between assets on different blockchains. Moai Finance seeks to expand their product to support XRPL Mainnet and XRPL EVM sidechain to simplify the liquidity provision and asset swap mechanisms for users.