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.
