Ripple and HashKey DX Team Up to Launch XRPL Solutions in Japan
Ripple, a blockchain-based digital payment network and protocol company, has partnered with HashKey DX, a consulting firm from Tokyo, to implement XRPL-powered supply chain finance solutions in Japan. The collaboration aims to leverage the XRP Ledger (XRPL), a decentralized blockchain technology, to offer enterprise solutions that will initially be adopted by SBI Group companies. HashKey DX, part of the HashKey Group, has previously seen success with similar blockchain-enabled supply chain finance solutions in China, servicing over 4,000 companies, including 23 banks and 4,300 suppliers, with a trade volume exceeding 7 billion USD.
The partnership underscores the capabilities of the XRPL, particularly its track record, settlement speed, low costs, and scalability, as key advantages for its application in supply chain solutions. SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, will be involved in developing and introducing these tools to the Japanese market. Additionally, the partnership will explore further collaborations for various enterprise blockchain use cases in Japan.
Despite facing legal scrutiny from the U.S. Securities and Exchange Commission (SEC), Ripple continues to expand its global footprint, targeting the supply chain finance market which is anticipated to grow significantly in the coming years. This move indicates Ripple's commitment to driving the adoption of blockchain technology in enterprise settings, aiming to transform and streamline supply chain finance practices.
