Ripple has recently made significant progress in the Blockchain sector. Key partnerships in Japan and South Korea have been forged as part of the company’s strategy to bolster its XRPL (XRP Ledger) infrastructure. These collaborative efforts underscore Ripple’s ambition to play a pivotal role in the advancement of Blockchain technology.
Partnership with Futureverse: What Does It Mean?
The alliance with Futureverse is a testament to Ripple’s plans to expand its influence in the cryptocurrency and NFT arenas. Futureverse aims to boost network liquidity by implementing the XRPL NFT standard alongside the XRPL DEX. This partnership also extends to offering secure asset custody services via Ripple Custody, emphasizing Ripple’s commitment to integrating XRPL with cutting-edge technologies.
Ripple is set to further enhance the XRPL ecosystem by introducing the XRPL EVM (Ethereum Virtual Machine) sidechain by 2025. This development will introduce smart contract capabilities to XRPL, enriching the developer community. Moreover, Ripple’s exploration of native smart contracts on the XRPL Mainnet promises to make XRPL more attractive for innovative projects.
How is Ripple Advancing in South Korea?
Yonsei University’s inclusion in Ripple’s UBRI (University Blockchain Research Initiative) program has garnered significant attention in the academic sphere. As the 58th global partner in this initiative, Yonsei University will contribute substantially to Blockchain research.
Ripple has dedicated over $60 million to the UBRI program, offering strategic support, technical assistance, and financial backing to universities to foster academic progress in Blockchain technology.
Key Takeaways from Ripple’s Partnerships
- Ripple’s partnership with Futureverse aims to enhance network liquidity through the XRPL NFT standard.
- The upcoming XRPL EVM sidechain will bring smart contract functionality to XRPL by 2025.
- Ripple’s investments in Japan and South Korea highlight these regions as hubs of Blockchain innovation.
- Yonsei University, as Ripple’s 58th UBRI partner, will play a crucial role in Blockchain research.
- Over $60 million has been allocated by Ripple to the UBRI program for academic support.
Ripple’s strategic moves in Japan and South Korea have significantly impacted the cryptocurrency landscape. By reinforcing XRPL’s stature as a robust Blockchain platform, Ripple is positioning itself as a key contender in the global cryptocurrency market. With recent legal victories in the US, Ripple is poised to maintain its dominance on the international stage, which will also positively impact its cryptocurrency, XRP.