Ripple cryptocurrency is seen in this illustration photo taken in Krakow, Poland on June 4, 2021. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images)Blockchain firm Ripple has launched a Japan and Korea fund, aimed at driving innovation on the XRP Ledger as it continues to expand its presence in Asia-Pacific. XRP is Ripple's native cryptocurrency which is powered by the XRP Ledger, an open-source, public blockchain built for corporations. The XRPL Japan and Korea Fund is part of Ripple's commitment to 1 billion XRP aimed at providing financial, technical, and business support for developers, which was announced in March 2022. "The launch of this fund is a testament to Ripple's strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation," said Emi Yoshikawa, vice president of strategic initiatives at Ripple, according to the statement.

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Persons: Jakub Porzycki, Ripple, Emi Yoshikawa, Brad Garlinghouse Organizations: Getty, Korea Fund, CNBC Locations: Krakow, Poland, Japan, Korea, Asia, U.S