Ripple x Hashkey DX – A Collaboration To Facilitate XRPL Solutions In Japan

As per the latest Ripple XRP news update, Ripple’s XRP-based enterprise solutions have announced their partnership ( a strategic collaboration) with Hashkey DX, a Tokyo Consulting firm. 

This partnership would significantly impact the country of Japan by introducing cutting-edge blockchain-powered supply chain finance solutions to the Japanese market, boosting the capabilities of XRP Ledger – XRPL. 

With more than 4,000 registered firms using its platform—including 23 banks and 4,300 suppliers—HashKey DX is in a good position to expand to Japanese companies. Following the Ripple XRP news, currently, more than $7 billion in commerce is facilitated by HashKey Group’s solutions, while finance transactions are close to $3 billion.

Here’s what Andy Dan, CEO of Hashkey DX, said – 

“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, and we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.”

This collaboration also involves SBI Group via which Ripple hopes to investigate more enterprise blockchain use cases and promote efficiency and creativity across a range of industries.

This Ripple collaboration has made Ripple ready to enter the stablecoin market with its USD-pegged stablecoin.

The CEO of Ripple, Brad Garlinghouse, recently predicted that the cryptocurrency market will increase significantly and by the end of the year, its market valuation will have surpassed a trillion. Garlinghouse explained this expected rise in an interview with CNBC by citing several macroeconomic variables. The introduction of US spot Bitcoin exchange-traded funds (ETFs) and the impending Bitcoin halving event are among the contributing causes. 

With Bitcoin trading at almost $70,000, the total market capitalization of the cryptocurrency industry is currently $2.7 trillion. According to Garlinghouse’s projection, the market capitalization might double, reaching a total valuation of $5.2 trillion.

Notably, Ripple recently filed an opposition document against the regulatory body’s planned outrageous fines, taking a firm stand against the SEC’s determination to levy $2 billion in penalties. The comprehensive document, made public by Ripple’s defense lawyer James Filan, refutes the SEC’s sanctions as being unduly harsh and argues in favor of a significantly smaller $10 million fine.

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Good Day Fellas!

Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.