🔥🇯🇵Ripple Expands in Japan, Partners with HashKey to Launch XRPL-Powered Solutions
#Ripple made a big announcement earlier today. Sunday Dec announced the cooperation with HashKey DX and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, which is preparing to provide enterprise blockchain solutions to the Japanese market.
Expansion and Adoption of XRPL-Based Supply Chain Finance Solution
In an official press release, Ripple announced that as part of their partnership, HashKey dx will use Ripple's #XRP Ledger (XRPL) to power blockchain-based supply chain finance solutions. SBI Group companies became the first Japanese company to adopt this technology.
Ripple's partnership with HashKey DX and SBI Ripple Asia opens the door to innovative enterprise blockchain use cases in Japan.
According to Emi Yoshikawa, Ripple's Vice President of Strategic Initiatives, the partnership exemplifies a "shared commitment to advancing blockchain technology and providing tangible value to businesses."
Andy Dan from HashKey dx adds that xrpl offers “fast settlement speeds, low costs and scalability”, making sure that it provides a meaningful transformation in the business environment.
Launched in July 2019, HashKey dx's blockchain-based supply chain finance solution has gained significant traction on the Chinese mainland, where more than 4,000 companies, 23 banks and 4,300 suppliers are registered, registering more than $7 billion in trade and about $3 billion in financing transactions.
Ripple and SBI Ripple Asia's partnership with XRPL, a decentralized layer 1 blockchain known for its ten-year reliability and stability in tokenizing and exchanging crypto local and real-world assets, is preparing to expand XRPL-powered solutions to Japan.
Since XRPL is famous for its fast settlement speeds, low costs and scalability, the partnership sees these features as an ideal platform for supply chain finance solutions. The success of HashKey dx on the platform in China is a testament to its potential.
