Ripple has expanded its presence in Japan through a partnership with HashKey DX, aiming to introduce blockchain solutions based on the XRP Ledger. This strategic move positions SBI Group as the first Japanese company to utilize the XRP Ledger Blockchain for supply chain solutions, with the goal of promoting corporate blockchain adoption in Japan.
The collaboration between Ripple and Tokyo-based consulting firm HashKey DX is a significant milestone for blockchain adoption in Japan, focusing specifically on supply chain finance solutions. The partnership will facilitate the introduction of XRPL enterprise solutions to the Japanese market.
Working alongside Ripple and SBI Ripple Asia, HashKey DX will develop and deliver innovative supply chain finance solutions in Japan, leveraging the XRPL’s reputation in the corporate world, its fast settlement speeds, low costs, and scalability. Andy Dan, the president of HashKey DX, emphasized the potential to bring meaningful transformation and cutting-edge solutions to Japanese businesses.
HashKey Group, with over five years of experience in developing and implementing blockchain-supported supply chain finance solutions in mainland China, brings substantial value to the partnership. The company boasts more than 4,000 registered companies, including 23 banks and 4,300 suppliers, utilizing blockchain services. The total recorded trade amount exceeds $7 billion, with approximately $3 billion in transactions financed through the blockchain solution in China.
Markus Infanger, RippleX Senior Vice President, predicts significant growth in tokenized markets, with a projected value exceeding $16 trillion. As traditional finance players increasingly turn to blockchain networks such as XRPL, Stellar, and Ethereum, they are focusing on tokenizing assets and addressing pain points across different blockchains. Ongoing discussions with financial institutions indicate a growing interest in tokenization projects on the XRP Ledger, with companies already exploring distribution and researching use cases for the underlying blockchain technology.
Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
