Ripple, the entity behind crypto asset XRP, announced a partnership with Tokyo-based HashKey DX. The collaboration aims to roll out innovative XRP Ledger (XRPL)-powered solutions.

Ripple and HashKey’s partnership will also introduce advanced blockchain functionalities to Japanese businesses, starting with the SBI Group companies.

As a part of HashKey Group, HashKey DX brings a wealth of experience and a strong track record from mainland China. Since it started in July 2019, the platform has attracted thousands of companies, including banks and suppliers. The trade transactions completed through this system have surpassed several billion USD, with financing transactions reaching the billions.

Building on this success, HashKey DX will tailor these solutions for the Japanese market through a strategic alliance with Ripple and SBI Ripple Asia—a joint venture between SBI Holdings and Ripple.

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Introducing these solutions in Japan is just the beginning of a broader plan. HashKey DX, Ripple, and SBI Ripple Asia are exploring additional blockchain use cases that could benefit from XRPL’s capabilities.

Andy Dan from HashKey DX expressed enthusiasm about the partnership.

“The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution… We are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan,” Dan noted.

Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, also commented on the collaboration.

“This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses,” Yoshikawa added.

The Ripple community has strongly supported this initiative, particularly in light of HashKey’s recent ventures in Hong Kong. BeInCrypto reported that today, HashKey launched spot Bitcoin and Ethereum ETFs in collaboration with Bosera in the region.

During its first trading day, Bosera HashKey Bitcoin ETF (BOS HSK BTC) Bosera HashKey Ether ETF (BOS HSK ETH) started with opening prices of $6.470 and $3.238 in USD counters.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

Despite the positive industry buzz, the immediate market response to this news has been tepid. At the time of writing, XRP is trading at $0.49, down by 1.75% over the last 24 hours.

The post Ripple Partners with HashKey DX for XRPL-Powered Solutions in Japan appeared first on BeInCrypto.

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