Ripple collaborates to introduce supply chain finance to Japan

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Ripple Labs has partnered with HashKey DX to introduce XRP Ledger (XRPL)-powered enterprise solutions in Japan.

Hashkey DX, the Tokyo-based consulting company of the HashKey Group, will introduce supply chain finance solutions to Japan, working together with Ripple and SBI Ripple Asia, a joint venture between the two entities. .

Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, said: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.”

As part of the partnership, SBI Companies will become the first Japanese firms to use this supply chain finance solution. The companies will also leverage HashKey Group’s experience in supplying solutions in Asia.

In the past HashKey Group has achieved significant success with its blockchain-powered supply chain finance solutions, which have seen widespread adoption across mainland China.

Andy Dan, CEO of HashKey DX, stated: “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution, with its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.”

Looking forward, the three companies will explore possible future enterprise blockchain use cases that will leverage the capabilities of the XRPL.

In other blockchain and crypto news, Ripple recently announced plans to join the stablecoin market by launching its own native US-pegged digital currency, a market that has experienced increased competitiveness in the past several months.