Ripple to fund fintech and SMEs with grants of up to $100,000 under its “Unlocking Opportunity” program for global south markets.
RLUSD stablecoin undergoes advanced testing on XRP Ledger and Ethereum, poised to compete with USDT and USDC upon launch.
Ripple has invested $5.5M in Mercy Corps Ventures, supporting 54 startups, 44% co-founded by women, fostering financial inclusion.
Ripple Labs Inc. is driving innovation in financial inclusion with its latest collaboration with Mercy Corps Ventures. The company unveiled the “Unlocking Opportunity” program, which seeks to empower entrepreneurs and small businesses in emerging markets. With this initiative, Ripple is targeting the adoption of its yet-to-be-launched RLUSD stablecoin.
https://twitter.com/Ripple/status/1858971049800446359
Targeting Financial Inclusion and Growth
Ripple’s efforts are centered on advancing the capabilities of the XRP Ledger and promoting RLUSD adoption. The initiative prioritizes fintech startups and SMEs exploring financial inclusion use cases.
These include remittances, savings, micropayments, and real-world asset tokenization. Ripple highlighted that innovators leveraging the XRP Ledger or RLUSD stablecoin stand to benefit the most from this support.
A notable component of the program is its focus on the Global South. Through the initiative, Ripple will provide funding of up to $100,000 to eligible projects. Moreover, the program is expected to back ventures working on decentralized finance (DeFi) loans, stablecoin-powered humanitarian aid distribution, and digital payment solutions.
Expanding Partnerships and Early-Stage Support
Ripple’s collaboration with Mercy Corps Ventures highlights its commitment to scalable solutions. The company has already committed over $5.5 million to Mercy Corps Ventures, which has supported 54 early-stage startups. Notably, 44% of these startups have at least one female co-founder, reflecting Ripple’s focus on inclusive development.
This expanded partnership aims to drive the “Unlocking Opportunity” program’s success by empowering businesses that align with Ripple’s vision. With its extensive network and expertise, Mercy Corps Ventures plays a crucial role in helping Ripple achieve these objectives.
Advanced Testing Ahead of RLUSD Launch
Ripple continues rigorous testing of RLUSD on the XRP Ledger and Ethereum blockchains. While the stablecoin’s launch timeline remains undisclosed, its entry is set to challenge existing players like USDT and USDC. The advanced trials indicate Ripple’s focus on building a robust foundation for RLUSD’s adoption.
