Crypto Eri, a prominent figure in the XRP community, has highlighted the growing potential of XRP and its accompanying blockchain, XRP Ledger (XRPL), in unleashing new and innovative use cases.
In a recent post on X, Eri discussed the impact of Ripple’s recent initiative in the Asian market. Ripple recently announced a new fund aimed at promoting innovation on the XRP network and expanding its presence in the Asia-Pacific region, particularly in Korea and Japan.
The fund will be used to establish partnerships, offer grants to developers, support startups, and foster community growth in Japan and Korea. This initiative is in line with Ripple’s commitment to allocate 1 billion XRP for technical and financial assistance to developers.
Ripple’s Vice President of Strategic Initiatives, Emi Yoshikawa, emphasized the importance of this fund launch in Japan and Korea as key hubs for blockchain innovation.
Reacting to this news, Crypto Eri expressed optimism about the future of XRP and XRPL in Asia, predicting the emergence of unique applications and a departure from traditional business models.
Mayukha Vadari, a senior software engineer at RippleX, also noted Ripple’s growing influence in South America, particularly in Brazil.
Last year, Ripple identified the Asia-Pacific region as one of its fastest-growing markets and reaffirmed its commitment to promoting cryptocurrency payment services there. This commitment was reinforced by Ripple’s acquisition of a full operational license in Singapore in October 2023.
Ripple has also partnered with HashKey DX, a Tokyo-based firm, to introduce XRPL-based solutions for supply chain finance in Japan. Additionally, Ripple collaborated with SBI Holdings in 2016 to establish SBI Ripple Asia, aimed at increasing the adoption of Ripple’s payment solutions in Japan.
Furthermore, Ripple’s dedication to promoting XRP in the Asian market is evident as XRPL will be used to issue official Expo NFTs for millions of attendees next year.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed are personal and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct their own research before making investment decisions. The Crypto Basic is not liable for any financial losses incurred.