- Ripple launched the XRPL Japan & Korea Fund in order to promote innovation and use of the XRP Ledger throughout the Asia Pacific Region.
- The fund already has facilitated important projects like VWBL in Japan or Moai Finances in Korea. Both of these are aimed to enhance data security and fluidity in assets on the XRPL.
Ripple grabbed headlines Monday, 10th June with the announcement of a major initiative aimed to foster innovation and the adoption of XRPL throughout the Asia Pacific. Ripple announced the XRPL Japan & Korea Fund. This announcement signals Ripple’s commitment to enhancing the innovation and utility of the XRPL Platform in APAC.
The Fund, according to its official statement is intended to support innovation in the XRPL ledger particularly in Japan or Korea. The Fund aims to accomplish this by a variety of means including building corporate partnerships, providing developer grants, investing in startups, and encouraging community growth. reported by Crypto News Flash. Emi Yoshikawa is Vice President for Strategic Initiatives, Ripple. She said this:
This fund’s launch is proof of Ripple’s belief that Japan and Korea are key regional hubs of blockchain innovation.
The fund will be focused on improving utility and adoption within the XRP Ledger markets. This initiative, which is also part of Ripple’s larger commitment to 1 billion XRP for providing services, forms an important component of the fund. financialSupport for developers using the XRP Ledger, including technical and business assistance.
Ripple also has a partnership in Japan with Strategic Business Innovator Group. SBI plans to use XRP/Ripple in 2023 for international remittances across Asia, including Indonesia, Philippines, and Vietnam.
Ripple’s Key Partnerships, Projects, and Initiatives
Funds have already been allocated to notable initiatives such as VWBL Japan and Moai Finance Korea. VWBL is developing the ‘Viewable’ Protocol, utilizing NFTs to secure and authenticate encrypted data for various real-world applications such as medical examinations. This protocol provides condition-based control of access and can be interoperated across different blockchains. It enhances both data security as well as accessibility.
Moai Finance, on the other hand is committed to enhancing the asset liquidity and utility in the XRPL Community through a cross-chain DEX aggregator and a decentralized multi-chain exchange. The products are designed to facilitate asset exchanges and liquidity across multiple blockchains.
Ripple’s executives will also be at community events in Seoul and Tokyo, as well as WebX Asia, Korea Blockchain Week and other upcoming events.
XRP Price Action
The XRP continues to trade under the 50-day EMA and the 200-day EMA, which reinforces the trend. If these trendlines are broken, a possible move to the 50-day EMA could be made. The bulls could target the 200 day EMA if they surpass the 50-day EMA.
It is important to pay attention to SEC news and activities in relation with the crypto case. If the price drops below $0.48, it could signal a move towards $0.45. The 14-day RSI is currently 38.47 and suggests that XRP might break below the $0.48 level before entering oversold terrain.
You may also like:
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.crypto-news-flash.com