Experts say XRP and its ledger now have new strengths and unique uses

Crypto Eri, a cryptocurrency expert who has gained widespread attention in the XRP community, claims that XRP and its associated blockchain, the XRP Ledger (XRPL), now have new use cases with firepower.
Eri expressed this sentiment in a recent post, amid Ripple’s recent Asian market initiative. Last week, Ripple launched a new fund targeting South Korea and Japan. The move is aimed at promoting innovation in XRP and strengthening Ripple’s foothold in the Asia-Pacific region.
Specifically, the fund’s resources will be used to strengthen partnerships, provide developer grants, invest in startups, and foster the growth of communities in Japan and South Korea. Notably, the move is in line with Ripple’s commitment to distribute 1 billion XRP to provide technical and financial support to developers.
Ripple’s vice president of strategic initiatives, Emi Yoshikawa, stressed that the launch of the fund underscores Ripple’s confidence in Japan and South Korea as key hubs for blockchain innovation.
Reacting to the announcement, cryptocurrency expert Crypto Eri said that the future of XRP and its blockchain in Asia is obvious and does not need to be predicted in advance. She expressed confidence that the new initiative will reveal unique applications and transcend traditional business models.
Additionally, Mayukha Vadari, senior software engineer at RippleX, noted that Ripple is also gaining significant momentum in South America, with Brazil leading the way.
Last year, Ripple highlighted the Asia-Pacific region as one of its fastest-growing markets. As such, the company reiterated its focus on promoting its cryptocurrency payment services in the region. This comes as Ripple is set to receive a full operating license in Singapore in October 2023.
Two months ago, Ripple entered into a partnership with a Tokyo-based company called HashKey DX to launch an XRPL-based supply chain finance solution in Japan.
Meanwhile, in 2016, Ripple partnered with Japanese financial services giant SBI Holdings to establish SBI Ripple Asia to increase the use of Ripple payment solutions in the region.
Ripple’s commitment to promoting XRP in the Asian market further confirms the fact that XRPL will be used to issue official Expo NFTs for millions of attendees next year. Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct in-depth research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.