- Ripple plans to expand adoption of digital assets in Korea and Japan.
- The company has partnered with Futureverse, a Metaverse tech firm.
- Korea’s Yonsei University became Ripple’s 58th global partner for the firm’s UBRI.
Ripple, the U.S.-based creator of the XRP Ledger (XRPL), is making a concerted push into the Asia Pacific region. The company aims to bolster crypto infrastructure in South Korea and Japan to pave the way for institutional adoption, according to the latest social media post by Ripple’s CTO David Schwartz.
In addition to its regional expansion plans, Ripple has also announced partnership with Futureverse, a metaverse tech firm that will leverage Ripple Custody to securely store its digital
Futureverse has already embraced the XRPL ecosystem, utilizing the XRPL NFT standard, XRP as the gas token on the Root Network, and integrating with the XRPL DEX for network liquidity.
It is also important to note that Ripple plans to introduce advanced programmability, including smart contracts to the XRP Ledger, as per a blog post. This will help builders gain additional customizability for a variety of use cases.
Further demonstrating its commitment to the region, Ripple has partnered with Korea’s Yonsei University which becomes the firm’s 58th global partner in its University Blockchain Research Initiative (UBRI). UBRI has committed more than $60 million to promote academic excellence and research in blockchain technology.
On the other hand, according to the data from CoinMarketCap, the price of the XRP token, the seventh-largest digital asset in the market, rose 3.65% and the altcoin is currently trading at $0.5672, down 85.27% from its all-time high of $3.84, witnessed on January 4, 2018.
In the past seven days, XRP dropped 4.30% while in the past 30 days, the altcoin is down 0.66%. Since September 2023, XRP has been one of the worst-performing altcoins, up only close to 13.06%, being outperformed by Bitcoin, Ether, Solana, Tron, and others.
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