Ripple Expands Blockchain Presence in Korea and Japan with New Partnerships

• Ripple collaborates with Futureverse to enhance XRPL and protect digital resources in emerging tech fields.
• New initiatives by Ripple will introduce smart contracts and expand XRPL’s uses by 2025.
• A positive consumer reaction follows Ripple’s partnerships in Korea and Japan, signalling increased shareholder trust.

Ripple has expanded its blockchain efforts in Korea and Japan with new alliances aimed at enhancing the XRP Ledger . These arrangements follow the latest outcome of it’s constitutional battle with the U.S. Securities and Exchange Commission. The business is focused on improving XRPL to encourage institutional adoption and attract creators to the platform.

Ripple’s Expansion in Asia

The company’s recent partnerships in South Korea and Japan are crucial for its strategy to grow its presence in the continent. These agreements are centred on making the XRPL more programmable, which has been a key request from the XRP members. The  CEO, Brad Garlinghouse, mentioned that these improvements will help developers build more advanced applications on the XRPL. This will ultimately benefit both crypto-native users and businesses.

Ripple has also partnered with Futureverse, a business specialising in AI and metaverse technology. Futureverse now uses Ripple’s custody services to protect its digital assets. The company has also adopted the XRPL NFT standard and uses XRP as the gas token on its Root Network. This partnership further involves it in emerging tech fields.

Enhancing XRPL Programmability

Ripple’s commitment to improving XRPL programability includes plans to introduce smart contracts by 2025. These changes aim to expand the range of uses for the XRP Ledger. Ripple plans to achieve these improvements through two main initiatives: launching smart contract capabilities on the XRPL mainnet and introducing the XRPL Ethereum Virtual Machine  sidechain. This EVM sidechain, developed with the Peersyst blockchain firm, is close to deployment on the Devnet, showing significant progress.

These developments are expected to attract more developers to the XRPL, encouraging innovation and expanding the platform’s capabilities. Ripple’s focus on programability aligns with its goal of increasing global blockchain adoption.

Collaborations with Academia and Market Response

Ripple’s partnerships are not limited to technology. The business continues to work closely with educational organisations in Asia. Since the establishment of the University Blockchain Research Initiative  in 2018, Ripple has secured over $60 M for blockchain research. Yonsei Campus in South Korea plays a major role in this initiative by leading studies in areas like artificial intelligence and finance.

The economy reacted positively to Ripple’s announcements. XRP showed gains in the 24-hour period following the news, indicating growing shareholder confidence. Ripple’s recent moves in Korea and Japan may mark a new chapter in the company’s expansion.