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Ripple Partners with HashKey DX for XRPL-Powered Solutions in Japan

2 mins
Updated by Harsh Notariya
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In Brief

  • Ripple teams up with HashKey DX to accelerate XRPL adoption in Japan.
  • They aim to transform Japanese businesses with blockchain solutions.
  • SBI Group pioneers XRPL use, starting with supply chain applications.
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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.

Ripple and HashKey DX Partner for XRPL-Based Solutions in Japan

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.

Read more: How to Sell Ripple?

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

XRP Price Performance.
XRP Price Performance. Source: BeInCrypto

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.

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Lynn Wang
Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
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