The Time for Progress is Now

Unveiling New Ripple Fund: Accelerating Innovation on the XRP Ledger in Japan and Korea

Feature Image

We are excited to announce the launch of the XRPL Japan and Korea Fund, dedicated to supporting innovation on the XRP Ledger (XRPL). 

The XRPL Japan and Korea Fund will provide support for a range of robust initiatives to foster innovation on the XRP Ledger in both countries, including:

  • Corporate Partnerships: Collaborate with leading companies in Japan and Korea to integrate the use of the XRP Ledger and explore enterprise use cases across a range of industries

  • Developer Grants: Provide funding along with technical and business support to promising projects being developed on the XRP Ledger

  • Startup Investments: Identify and invest in early-stage companies leveraging the XRP Ledger to build new and exciting use cases

  • Community Growth: Support for local events, hackathons and educational programs to engage and grow the local XRP Ledger communities

The XRPL Japan and Korea Fund is part of Ripple’s 1 Billion XRP commitment to provide financial, technical, and business support for developers building on the XRP Ledger – through both the XRPL Grants and XRPL Accelerator programs. A significant portion of the 1B XRP will be targeted towards exciting opportunities specifically in Japan and Korea amounting to tens of millions of dollars over time. 

“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. “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 are already home to some of the most vibrant and rapidly growing XRP Ledger communities globally, underpinned by strong institutional partnerships, progressive and proactive regulatory frameworks, and a growing number of innovative startups in the blockchain industry. Announced in May 2024, Wave 7 of the XRPL Grants program saw Japan- and Korea-based projects, VWBL and Moai Finance, being awarded funding to continue building and scaling on the XRP Ledger.

  • VWBL (Japan): The 'Viewable' Protocol, VWBL, focuses on utilizing NFTs to encapsulate encrypted data to authenticate real-world scenarios, such as medical exams. VWBL is an on-chain condition-based access control protocol and key management network that operates across multiple blockchains. Its core features include enabling NFTs to securely carry encrypted external data, granting access to this data to users who meet specific conditions, and a decentralized and trustless architecture.

  • Moai Finance (Korea): Moai Finance is developing a multi-chain decentralized exchange (DEX) and cross-chain DEX aggregator to improve asset liquidity and utility within the XRP Ledger (XRPL) community. Their flagship product is an automated market maker (AMM)-based decentralized protocol that enables seamless swapping between assets on different blockchains. Moai Finance seeks to expand their product to support XRPL Mainnet and XRPL EVM sidechain to simplify the liquidity provision and asset swap mechanisms for users

Over the years, Ripple has made significant strides with several established partnerships in Japan and Korea. In 2016, 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. Earlier this year, Ripple also entered into a strategic partnership with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, to introduce XRP Ledger-powered enterprise solutions to the Japanese market. At the World Expo 2025 in Osaka, Japan next year, the XRP Ledger will be used for issuing official Expo NFTs for millions of attendees.

To further demonstrate Ripple’s commitment to these markets, key executives will be attending and speaking at major industry events in August and September, such as WebX Asia in Japan and Korea Blockchain Week. Ripple will also be hosting community events in Seoul and Tokyo in early September, both of which will provide 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 building on the XRP Ledger.

To receive the latest email updates about the Japan and Korea Fund, sign up here.

Related stories