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RippleX has made a groundbreaking announcement that is set to energize the blockchain community in Japan and Korea.

In a recent tweet, RippleX declared the opening of the XRPL Japan and Korea Fund, inviting applications from businesses, developers and community members engaged with the XRP Ledger (XRPL).

The XRPL Japan and Korea Fund is part of Ripple's one billion XRP commitment to give financial, technical and business support to developers, announced in March 2022. This initiative demonstrates a major commitment to promoting innovation and growth in the XRPL ecosystem.

In a new tweet, RippleX, the Ripple team committed to supporting the growth and development of XRP Ledger, stated that the XRPL Japan and Korea Fund is now open for applications from enterprises, developers and XRPL community members.

Launched in June by Ripple, the XRP Japan and South Korea fund aims to drive blockchain innovation in the two markets and will go toward supporting corporate partnerships, developer grants, start-up investments and community growth.

Ripple's focus on Asia-Pacific

The XRPL Japan and Korea Fund seeks to spur a wave of innovation on the XRP Ledger. The creation of this fund demonstrates Ripple's strong trust in Japan and Korea's potential as a key regional hub for blockchain innovation.

Ripple announced last year that it will continue to "prioritize the Asia-Pacific region for adoption of its crypto payment services" given that it is "one of its fastest growing regions."

In April, Ripple collaborated with Tokyo-based HashKey DX to deliver XRPL-powered supply chain finance solutions to the Japanese market. Ripple announced that XRP Ledger would be used to issue official Expo NFTs to millions of guests at World Expo 2025 in Osaka, Japan.