Ripple expands to Japan, partners with HashKey DX for XRPL usage
Ripple has announced a partnership with Tokyo-based HashKey DX, the entity behind the crypto asset XRP. The partnership aims to roll out solutions powered by the XRP Ledger (XRPL).
The Ripple and HashKey partnership will introduce advanced blockchain functionality to Japanese businesses, starting with SBI Group companies.
Ripple and HashKey DX partner for XRPL-based solutions in Japan
As part of the HashKey Group, HashKey DX brings extensive experience and a strong track record from mainland China. As of July 2019, the platform has attracted thousands of companies, including banks and suppliers. The business transactions completed in this system have reached more than several billion dollars and the financial transactions have reached billions.
Building on this success, HashKey DX will develop these solutions for the Japanese market through a strategic alliance with Ripple and SBI Ripple Asia – a partnership between SBI Holdings and Ripple.
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Introducing these solutions in Japan is only the beginning of the expanded plan. HashKey DX, Ripple and SBI Ripple Asia are exploring additional blockchain use cases that can benefit from XRPL's capabilities.
Andy Dan from HashKey DX expressed his enthusiasm about the partnership.
“XRPL was the perfect blockchain infrastructure for us to build a proven supply chain finance solution… We are confident in its ability to drive meaningful change and introduce innovative and decisive solutions to businesses in Japan,” said Dan.
Amy Yoshikawa, Vice President of Strategic Initiatives at Ripple, commented on the collaboration.
“This collaboration demonstrates our shared commitment to advancing blockchain technology and providing tangible value to businesses,” added Yoshikawa.
The Ripple community has supported this initiative, especially in light of HashKey's recent work in Hong Kong. BeInCrypto reports that today HashKey has partnered with Bocera to launch Spot Bitcoin and Ethereum ETFs in the region.
In its first trading day, Bosera HashKey Bitcoin ETF (BOS HSK BTC) Bosera HashKey Ether ETF (BOS HSK ETH) opened at $6.470 and $3.238 in USD counter.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
Despite positive industry buzz, the immediate market reaction to this news was lukewarm. At the time of writing, XRP is at $0.49, down 1.75% in the last 24 hours.
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