Ripple is making headlines this week with several major announcements aimed at bolstering its blockchain infrastructure and supporting institutional adoption. These developments underscore Ripple’s commitment to blockchain technology.
Here’s a quick rundown of their latest announcements!
New partnership with Futureverse
Ripple has partnered with Futureverse, an AI and metaverse tech company, to provide secure asset custody via Ripple Custody. Futureverse leverages the XRPL (XRP Ledger) NFT standard and integrates XRP as a gas token on the Root Network. Futureverse is also connected to the XRPL decentralized exchange (DEX) to enhance network liquidity. This partnership underscores Ripple’s focus on expanding the use of XRPL across innovative tech sectors.
Upcoming improvements to XRPL
Ripple plans to improve the XRPL ecosystem by introducing new programmability features. The company plans to launch an XRPL EVM (Ethereum Virtual Machine) sidechain by 2025, adding smart contract capabilities to the XRPL development ecosystem. Additionally, Ripple is also exploring the potential for native smart contracts on the XRPL Mainnet. These changes should increase XRPL’s appeal and adoption and spur innovation.
Ripple’s previous $1 billion commitment to the XRP Ledger includes a significant investment in Japan and South Korea, with “tens of millions of dollars” earmarked for projects there. The move underscores Ripple’s belief in these regions as major blockchain innovation hubs.
Yonsei University Joins Ripple’s UBRI
In a major academic development, Ripple’s University Blockchain Research Initiative (UBRI) has added Yonsei University in Korea as its 58th global partner. This partnership is part of UBRI’s ongoing effort to foster academic excellence and cutting-edge research in blockchain technology. With over $60 million committed to the UBRI program since its inception, Ripple continues to support universities with strategic resources, technical support, and financial grants. Yonsei University will be instrumental in advancing blockchain research across disciplines.
Ripple’s Commitment to Blockchain Innovation
In conclusion, Ripple’s bold moves in Japan and South Korea are shaking up the blockchain scene! By diving deep into these markets and partnering with key players, Ripple is cementing XRP Ledger’s status as a top blockchain platform. These exciting initiatives could turbocharge Ripple’s global footprint and take blockchain technology to new heights in cross-border transactions.
With the recent partial victory in the US, Ripple is showing its mettle in an international forum, while the current regulatory environment in the US is a depressing factor for blockchain innovation.