Ripple has announced a strategic partnership with the Asia Web3 Alliance Japan (AWAJ) and Web3 Salon to enhance its footprint in Japan”s financial landscape. This collaboration is designed to support local startups in developing financial solutions on the XRP Ledger (XRPL).
The initiative, known as the Japan Financial Infrastructure Innovation Program (JFIP), aims to promote compliant decentralized applications (dApps) within the region. Ripple has long recognized Japan as a crucial market, bolstered by its collaboration with SBI, which has led numerous initiatives for XRP and XRPL adoption.
As part of the JFIP, Ripple, along with its partners, will work closely with major Japanese financial institutions, including Mizuho Bank, SMBC Nikko Securities, and asset tokenization firm Securitize Japan. Together, they will provide support to startups focusing on three primary areas: the tokenization of real-world assets, the development of stablecoins, and enhancements to payments and credit infrastructure.
Christina Chan, senior director of developer growth at RippleX, emphasized that Japan presents significant opportunities for blockchain innovation, thanks to its supportive regulatory environment and skilled workforce. She stated, “This program represents Ripple”s commitment to fostering a vibrant ecosystem where startups can leverage the speed, low cost, and reliability of the XRP Ledger to create real-world benefits and transform financial infrastructure.”
Participants in the program will benefit from a comprehensive multi-stage acceleration process, receiving mentorship, strategic consulting, and technical assistance from the partner companies to develop working prototypes. Selected startups may also receive grants of up to 1.55 million yen (approximately $10,000), along with priority access to future Ripple global grants.
The culmination of this initiative will take place at a Demo Day scheduled for February next year, where participants will have the opportunity to present their projects to a diverse audience of investors, policymakers, and industry leaders.
The JFIP is positioned as a vital component of Ripple”s broader strategy to enhance the XRPL community in the Asia-Pacific region. By facilitating connections between traditional finance (TradFi) and Web3 developers, Ripple aims to reinforce Japan”s status as a global center for digital asset innovation.
Currently, XRP is trading at $1.84. Although it has seen a slight uptick today, the token has experienced a 17% decline over the past month.
