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Ripple Launches Fund To Drive Crypto Innovations In Asia

Blockchain firm Ripple (XRP) is launching a new fund aimed at driving cryptocurrency and blockchain innovations in the Asia-Pacific region.

Ripple, which uses the XRP blockchain ledger to facilitate digital payments, says the fund will support corporate partnerships and start-up investments, particularly in Japan and South Korea.

The fund is part of Ripple’s commitment to provide financial and business support to blockchain developers worldwide.

Ripple has made Asia a central focus, calling the region one of the fastest growing crypto centres in the world.

Over the last year, Ripple has grown its cryptocurrency payment services throughout Asia.

Ripple obtained a full license to operate in Singapore in October 2023 after establishing that country as its Asia headquarters in 2017.

Ripple has also said that it will issue non-fungible tokens (NFTs) to millions of attendees at the World Expo 2025 being held in Osaka, Japan.

Non-fungible tokens are digital artwork that is verified using blockchain technology.

Separately, Ripple has also announced plans to launch a U.S. dollar stablecoin.

The XRP crypto token that is associated with Ripple’s payments service has declined 7% over the last 12 months and currently trades at $0.48 U.S.