Ripple Expands Influence in Japanese Market

Ripple has strengthened its presence in the Japanese market by partnering with HashKey DX to introduce Blockchain solutions based on the XRP Ledger. This strategic move prepares SBI Group to become the first Japanese company to utilize the XRP Ledger (XRPL) Blockchain for supply chain solutions, aiming to facilitate the adoption of corporate blockchain in Japan.

Ripple’s partnership with Tokyo-based consulting firm HashKey DX marks a significant milestone for blockchain adoption in Japan. The partnership focuses on supply chain finance solutions, facilitating the introduction of XRPL enterprise solutions to the Japanese market.

Working with Ripple and SBI Ripple Asia, HashKey DX will create and deliver innovative supply chain finance solutions in Japan, leveraging XRPL’s corporate pedigree, settlement speeds, low costs, and scalability. Andy Dan, president of HashKey DX, highlighted the potential to provide meaningful transformation and cutting-edge solutions for Japanese businesses.

With over five years of experience in developing and implementing blockchain-supported supply chain finance solutions in mainland China, HashKey Group adds significant value to the partnership. The company has more than 4,000 registered companies, including 23 banks and 4,300 suppliers using blockchain services. The total recorded trade amount exceeds $7 billion, with approximately $3 billion in transactions financed through the blockchain solution in China.

RippleX Senior Vice President Markus Infanger predicts a significant growth trajectory for tokenized markets, anticipating they will reach a value exceeding $16 trillion.

As traditional finance players continue to turn to blockchain networks like XRPL, Stellar, and Ethereum, they focus on tokenizing assets and addressing pain points across various blockchains. Ongoing discussions with financial institutions particularly indicate increasing interest in tokenization projects on the XRP Ledger. Companies are already exploring distribution and researching use cases for the underlying blockchain technology.