Ripple and HashKey Team Up to Supercharge XRPL Solutions in Japan

Ripple Labs has announced it has joined forces to make XRPL-powered solutions more efficient in Japan via a recent partnership.

The American blockchain payment firm associated with XRP  is joining forces with HashKey DX, the Tokyo-based division of the digital asset financial services company HashKey to bring XRP Ledger-powered solutions to the Japanese market. Crypto enthusiasts are buzzing about Ripple’s cryptographic developments, and it’s boosting optimism for the price of XRP. The payment protocol made the announcement on X platform.

Partnership driving Innovation

It is a major collaboration as HaskKey Group, a player in the Asian blockchain, is merging with Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple to introduce supply chain finance solutions to Japan.

By harnessing the power of the XRPL, a decentralized layer 1 blockchain that drives XRP, a digital currency, these solutions have their sights set on tokenizing and swapping both crypto-native and real-world assets. This is an incredible way to bring together the digital and physical worlds.

Andy Dan said XRPL is the perfect blockchain infrastructure for a successful supply chain finance solution in the country. With its impressive track record and performance metrics, Ripple is confident in bringing transformation and cutting-edge solutions to businesses in Japan.

Ripple’s partnership sparks XRP resurgence

According to Coinmarketcap, the live XRP price today is $0.495688 with a 24-hour trading volume of $1,162,843,579. XRP is down 2.05% in the last 24 hours and is ranking number 7 with a live market cap of $27,379,752,568.

After a bit of a downswing yesterday, today’s price rise shows a major twist, especially considering all the positive developments mentioned earlier. It is giving a boost of optimism to the Ripple-backed token, even with the regulatory uncertainties from the U.S. SEC and recent slower market performance.

Ripple is set to release a whopping 1 billion XRP tokens from the escrow account on May 1st as it has been a monthly event since 2017. Investors and analysts are feeling a bit concerned about the predictable unlocking of XRP tokens and how it might affect the market in the coming weeks

Future possibilities 

Ripple’s smart move to expand into the Japanese market is a clear indication of its well-thought-out strategy. Things are looking up as XRP is currently trading in the green, picking up speed after a bit of a sluggish performance in the past few days.

The aforementioned entities are teaming up to explore even more promising ventures together, focusing on different enterprise blockchain cases that maximize XRPL’s power.

Plus, this collaboration puts SBI Group in the perfect spot to lead the charge in adopting supply chain finance solutions, just like collaboration with Stablecoin to  boost USDC in Japan.