According to Wu, the Financial Times revealed that Ripple announced the launch of the XRPL Japan and South Korea Fund. This is part of Ripple's commitment of 1 billion XRP (about 480 million US dollars) to provide financial, technical and business support to developers based on the XRP ledger through the XRPL grant and XRPL accelerator program. Ripple will work with leading companies in Japan and South Korea to integrate the use of the XRP ledger, provide funding as well as technical and business support for promising projects developed on the XRP Ledger, and will also support local events, hackathons and educational projects.