Ripple upgrades XRPL in collaboration with Futureverse, investing tens of millions of dollars in Japan and South Korea.
Ripple welcomed several significant announcements this week aimed at strengthening blockchain infrastructure and supporting institutional use. These developments underscore Ripple's commitment to driving innovation in blockchain technology.
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Partnership with Futureverse
Ripple has announced a partnership with AI and Metaverse technology and content company Futureverse to provide secure asset management services through Ripple Custody. Futureverse is utilizing the XRPL XRP Ledger NFT standard and is using XRP as the fuel token for the Root Network. Additionally, Futureverse is integrating with the XRPL decentralized exchange DEX to enhance network liquidity. This partnership highlights Ripple's focus on expanding the application of XRPL in innovative technology fields.
Upcoming Upgrade for XRPL with XRPL EVM Test Chain Launch
Ripple plans to upgrade the XRPL ecosystem and is set to launch the XRPL EVM Ethereum Virtual Machine sidechain in 2025 to bring smart contract technology to XRPL development ecosystem. Moreover, Ripple is also exploring the potential for native smart contracts on the XRPL mainnet. These changes are expected to enhance the attractiveness and adoption of XRPL, encouraging innovative developments.
Ripple Reserves Millions, Focuses on Investments in Japan and Korea
As part of Ripple's $1 billion initiative for the XRP Ledger, investments in Japan and Korea are also included, with "millions of dollars" earmarked for local development projects. This move underscores Ripple's commitment to these regions as hubs for blockchain innovation.
Ripple Drives Blockchain Technology into Campus, Partners with Yonsei University in Korea
In the academic realm, Ripple's University Blockchain Research Initiative (UBRI) has announced the inclusion of Yonsei University in Korea as its 58th global partner. Ripple has already invested over $60 million to support blockchain technology development at universities in the program, providing strategic resources, technical support, and multi-faceted assistance.
Ripple's Commitment to Blockchain Innovation
In conclusion, Ripple is deeply engaging in the Japanese and Korean markets, not only through active partnerships and deployments but also by seeking external collaborators, gradually reshaping the blockchain market. Ripple is enhancing the XRP Ledger as a leading blockchain platform in the industry. These initiatives are expected to significantly expand Ripple's global influence and drive blockchain technology to new heights in cross-border transactions. With some recent victories in its legal battle with the SEC and demonstrating its strength in international markets, Ripple's efforts have gained attention. However, the regulatory pressures in the United States on blockchain innovation have also sparked widespread concern.