Ripple continues to expand its global presence despite facing jurisdiction challenges in the United States. The blockchain payments infrastructure provider has announced a new partnership with HashKey DX, a company within the HashKey Group, showcasing its progress in entering the Japanese market with enterprise solutions.
The collaboration involves Ripple, HashKey DX, and SBI Group, and aims to develop XRP Ledger (XRPL)-based solutions for institutional investors in Japan. The goal is to establish cooperation that will facilitate the use of HashKey Group’s blockchain-based supply chain financial products, which have seen trading exceed $7 billion among over 400 registered companies, including 23 banks and 4,300 suppliers.
HashKey DX will leverage Ripple’s XRPL as the underlying technology to build these supply chain solutions. Andy Dan, CEO of HashKey DX, highlighted XRPL’s impressive track record and performance metrics, emphasizing its fast and cost-effective settlements and scalability. This collaboration will expand the reach of supply chain services to a wider community in Japan.
The partnership is expected to bring significant changes to the Japanese business industry by introducing cutting-edge blockchain solutions that enhance efficiency at the enterprise level. Ripple, along with HashKey DX and SBI Group, is also exploring other blockchain use cases to address future supply chain challenges.
SBI Group, Japan’s first banking company, will soon adopt Ripple’s supply chain solutions, demonstrating the success of Ripple’s technology and signaling extensive cooperation in the region.
Ripple’s XRPL payment technology is gaining recognition not only in Japan but also worldwide. Earlier this year, Ripple partnered with the Axelar Foundation to enhance interoperability aspects of the XRP Ledger, paving the way for the tokenization of real-world assets. Additionally, Credefi, a decentralized finance (DeFi) platform in the European Union, integrated Xummanu into its platform last year.
