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Ripple Launches XRP Innovation Fund in Japan, Korea

Ripple's XRPL Japan and Korea Fund is part of the firm's 1 billion XRP commitment to offer financial, technical, and business support for developers

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Ripple is launching the XRPL Japan and Korea Fund, which is dedicated to accelerating innovation on the XRP Ledger in the two Asian markets.

The fund will offer support to boost innovation initiatives including corporate partnerships, developer grants, startup investments, and community growth.

It comes as part of Ripple's 1 billion XRP commitment to provide financial, technical, and business support for XRP developers.

Ripple stated that a "significant portion" of this 1 billion will be targeted towards opportunities "specifically in Japan and Korea."

“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,” said Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple.

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“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 boast some of the most dynamic and swiftly expanding XRP Ledger communities worldwide, supported by robust institutional partnerships, forward-thinking regulatory frameworks, and a surge of innovative blockchain startups.

In May 2024, Wave 7 of the XRPL Grants program awarded funding to Japan- and Korea-based projects, VWBL and Moai Finance, to further develop and scale their work on the XRP Ledger.

Two years later, Ripple partnered with SBI Holdings to establish SBI Ripple Asia - a joint venture which has been instrumental in promoting the adoption of Ripple Payments solutions in the region.

Ripple also formed a strategic partnership with Tokyo-based consulting company HashKey DX to bring XRP Ledger-powered enterprise solutions to the Japanese market.

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The XRP Ledger will be used at next year's World Expo in Osaka, Japan, to issue official Expo NFTs for millions of attendees

Additionally, Ripple will host community events in Seoul and Tokyo in early September, providing an opportunity for the local community and developers to learn more about the XRPL Japan and Korea Fund and Ripple’s vision for supporting local projects on the XRP Ledger.