- Ripple’s new fund in Japan and Korea aims to drive innovation on the XRPL.
- Speculation suggests a potential partnership between Ripple and Japan-based blockchain platform Jasmy.
- This results from Japan’s favorable regulations and existing partnerships with SBI Japan.
Speculation is rife within the cryptocurrency community about a potential partnership between Ripple, the U.S.-based crypto payments firm, and Jasmy, a Japanese blockchain platform.
This speculation arose after Ripple announced the creation of a fund in Japan and Korea to foster innovation on the XRP Ledger (XRPL), signaling further expansion in the Asia-Pacific region.
Ripple noted in a Tuesday statement that the funds will support corporate partnerships, developer grants, startup investments, and community growth. This new fund will be financed by Ripple’s 1 billion XRP committed in March 2022 to provide financial, technical, and business support for developers.
Given Ripple’s established presence in the Asian market, a crypto enthusiast known as DipMehtaVerse on X suggested that Jasmy could be among the beneficiaries of Ripple’s investment in Japan. According to him, Ripple and Jasmy are probably already in partnership, with an official announcement potentially coming by 2025.
He argues that digital assets play a significant role in Japan’s national strategy, yet there are only a few well-known blockchain companies. He suggests that while Ripple could invest in exchanges, doing so might face a conflict of interest if it invests in anything other than BITPoint Japan due to its joint venture with SBI Holdings.
He highlighted BITPoint, SBI Holdings, and Jasmy as the three major crypto-based entities. Additionally, he claimed that SBI, Ripple’s partner, has a strong relationship with Jasmy, likely strengthening Jasmy’s case.
Furthermore, the commentator also referenced the Winklevoss twins, founders of the Gemini exchange, who reportedly stated that this bull market would pick further momentum in Asia amid favorable blockchain regulations. As a result, he expressed the speculative belief that Ripple is strategically planning its moves, with Jasmy potentially playing a central role.
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