Ripple News: Major Partnerships in Japan and South Korea Strengthen XRPL

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Ripple is making headlines this week with several key announcements to strengthen blockchain infrastructure and support institutional adoption. These developments highlight Ripple’s commitment to blockchain technology.

Here’s a quick roundup of their latest announcements!

Ripple has partnered with Futureverse, an AI and metaverse tech company, to provide secure asset custody through Ripple Custody. Futureverse is leveraging the XRPL (XRP Ledger) NFT standard and integrating XRP as the gas token on the Root Network. Additionally, Futureverse is connected to the XRPL decentralized exchange (DEX) to enhance network liquidity. This partnership underscores Ripple’s focus on expanding the use of XRPL in innovative tech sectors.

Ripple is set to advance the XRPL ecosystem by introducing new programmability features. The company plans to launch an XRPL EVM (Ethereum Virtual Machine) sidechain by 2025, bringing smart contract capabilities to the XRPL development ecosystem. Moreover, Ripple is also exploring the potential for native smart contracts on the XRPL Mainnet. These changes should increase XRPL’s appeal and acceptance, encouraging innovation.

Ripple’s earlier $1 billion commitment to the XRP Ledger includes a hefty investment in Japan and South Korea, with “tens of millions of dollars” earmarked for projects there. This move highlights Ripple’s belief in these regions as key blockchain innovation hubs.

In a significant academic development, Ripple’s University Blockchain Research Initiative (UBRI) has added Yonsei University in Korea as its 58th global partner. This partnership is part of UBRI’s ongoing effort to drive academic excellence and cutting-edge research in blockchain technology. With over $60 million committed to the UBRI program since its inception, Ripple continues to support universities with strategic resources, technical support, and funding grants. Yonsei University will be pivotal in advancing blockchain research across various disciplines.

In conclusion, Ripple’s bold moves in Japan and South Korea are shaking up the blockchain scene! By diving deep into these markets and teaming up with key players, Ripple is boosting the XRP Ledger’s status as a top blockchain platform. These exciting initiatives could turbocharge Ripple’s global footprint and push blockchain tech to new heights in cross-border transactions.

With the recent partial win in the US, Ripple is showcasing its prowess in an international forum, as current US regulatory moves are depressing for blockchain innovation.