Long

World

Ripple is handling the legal challenges pushed by the US Securities and Exchange Commission (SEC) quite well. Amid the ongoing regulatory challenges, Ripple has launched the XRP Ledger (XRPL) Japan and Korea Fund. It comes with a motive to foster innovation on the <a href="https://news.todayq.com/xrpl-devs-score-big-with-new-update-is-this-a-xrp-bull-move/" rel="noopener noreferrer nofollow">XRP Ledger</a> in Asia-Pacific while focusing on Japan and Korea. Ripple picks Asia 
As per reports, The fund is part of Ripple’s broader commitment to allocate 1 billion XRP for supporting developers announced in March 2022. However, it aims to support corporate partnerships, developer grants, startup investments, and community growth, furthering Ripple’s commitment to driving blockchain innovation in the region.
This suggests that Ripple is targeting Japan and Korea as it views them as pivotal hubs for blockchain innovation. The firm has identified Asia-Pacific as one of its fastest growing regions and intends to continue prioritizing it for crypto payment services adoption.
It is important to note that Ripple partnered with Tokyo-based HashKey DX for XRPL-powered supply chain finance solutions. It launched SBI Ripple Asia joining hands with SBI Holdings to enhance its payment solutions in Japan.
Ripple CEO Brad Garlinghouse mentioned the challenging regulatory landscape in the US. Meanwhile, it contrasts with the favorable reception in the Asia Pacific.
The blockchain firm has been in a legal dispute with the US SEC since December 2020. The commission accused Ripple of raising over $1.3 billion through unregistered securities offerings. However, a legal victory was achieved when US District Judge Analisa Torres ruled that XRP is not a security. What’s ahead for XRP? 
The XRP Ledger will be utilized for issuing official Expo NFTs for attendees at the World Expo 2025 in Osaka, Japan. Ripple obtained a full license to operate in Singapore, further solidifying its presence in the Asia-Pacific region since establishing its headquarters in Singapore in 2017.
The blockchain firm plans to launch a US dollar stablecoin. Its president Monica Long indicated it would likely happen this year.
XRP is still dealing with the high selling pressure with not much clarity coming out of the lawsuit. Its price has dropped by 30% over the last 90 days. Meanwhile, it is still down by 21% on the year to date (YTD) basis.
XRP is trading at an average price of $0.485, at the press time. Its 24 hour trading volume is jumped by 80% to stand at $1.42 billion.

Ripple launches XRPL fund in Asia amid US SEC battle

Todayq News

Other articles published on Jun 11, 2024

Bitcoin Price to Rise Post FOMC Meeting, Here’s Why

Bitcoin Below $68k, Amidst Rare Miner Capitulation; Price Rebound Expected Post “Purge”

Is Ethereum’s Price Under Pressure? Here Is What Futures Data Signals

Bitcoin Turns Bearish As FOMC Meeting Approaches! BTC Price To Record Similar Trend?

Crypto regulation in South Africa 2024 – A Proactive Government on Blockchain

BlockDAG’s Groundbreaking Keynote Outshines Competitors With $48.5M Presale Triumph

Join our free newsletter for daily crypto updates!