Ripple has announced new strategic partnerships in South Korea and Japan to strengthen crypto infrastructure for institutional adoption, according to a September 3 report. after on social media platform
Ripple CEO Brad Garlinghouse declared that these steps would improve the programmability of XRP Ledger (XRPL) and showcase how crypto-native companies like Futureverse are increasingly adopting the company’s business solutions.
Following the news, Ripple’s XRP token reversed a week-long decline and rose 4% in the past 24 hours to $0.5687 at the time of writing, according Crypto Slates facts.
Future-oriented partnership
On September 2 Ripple announced a strategic alliance with Futureverse to securely manage its assets through an integration with Ripple Custody.
Under this partnership, Futureverse will enable secure, compliant Know Your Customer (KYC) authenticated access to DeFi via the Ottó blockchain. The company will also use Ripple Custody to ensure that digital assets are received and stored securely before being minted onto the Ottó blockchain.
Futureverse, known for its work in artificial intelligence and the metaverse, develops scalable, interoperable applications and experiences.
As an active participant in the XRPL ecosystem, Futureverse already uses the XRPL NFT standard and benefits from the low cost and high performance of the network.
XRPL’s programmability update
Ripple has also announced this plans to introduce new programmability features, including smart contracts, into the XRPL development ecosystem by 2025.
The XRPL’s improved programmability will be driven by two key developments, including the launch of native smart contract capabilities on the XRPL mainnet and the introduction of the XRPL EVM (Ethereum Virtual Machine) sidechain.
These updates aim to provide developers, entrepreneurs, and users with more customizable options, drive innovation, and attract more developers to the XRP Ledger.
Partnership with Korean Yonsei University
Finally, Ripple’s University Blockchain Research Initiative (UBRI). added Korea’s Yonsei University is the 58th global partner that aims to promote academic research in various fields, including artificial intelligence, finance and information systems.
Furthermore, the move will facilitate hackathons and fund the launch of an XRPL validator at Yonsei University.
Since its launch in 2018, UBRI has secured more than $60 million in funding to support academic excellence and research.