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Ripple’s $500 Million XRP Fund Fuels Jasmy Collaboration Rumors

Published 06/14/2024, 01:00 AM
Updated 06/14/2024, 01:45 AM
Ripple’s $500 Million XRP Fund Fuels Jasmy Collaboration Rumors
XRP/USD
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  • 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 a…

The post Ripple’s $500 Million XRP Fund Fuels Jasmy Collaboration Rumors appeared first on Coin Edition.

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