Ripple recently announced significant updates aimed at improving blockchain infrastructure to facilitate institutional adoption. This announcement came at the XRPL events in Korea and Japan, marking a major moment in the company’s ongoing efforts to enhance crypto utility.
Ripple Custody Partnership with Futureverse
A major development is Ripple’s partnership with AI and metaverse technology firm Futureverse. This collaboration will see Ripple Custody managing Futureverse’s digital assets, reflecting a crucial step in secure tokenization.
Futureverse has already integrated with Ripple’s XRPL NFT standard, uses XRP as the gas token on the Root Network, and contributes liquidity to the XRPL DEX.
Ripple President Monica Long highlighted the importance of secure and compliant infrastructure for enterprise applications. She expressed enthusiasm about advancing this partnership, emphasizing the need for robust custody solutions in blockchain.
Expansion of Ripple’s University Blockchain Research Initiative
In addition to its corporate partnerships, Ripple has expanded its educational outreach. The University Blockchain Research Initiative (UBRI) has welcomed Yonsei University from Korea as its 58th global partner. This addition underscores Ripple’s commitment to fostering blockchain research and development across academic institutions worldwide.
Upcoming Programmability Enhancements for XRPL
Ripple is also focusing on enhancing the programmability of the XRP Ledger (XRPL). The company plans to introduce advanced programmability features, including smart contracts, by 2025.
A key development in this area is the XRPL EVM Sidechain developed in collaboration with Peersyst. This sidechain is nearing its deployment on the development network and is expected to boost the XRPL’s programmability capabilities.
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The XRPL EVM Sidechain aims to bring Ethereum Virtual Machine (EVM) compatibility to the XRP community. This development is part of Ripple’s broader strategy to improve the functionality of the XRPL.
In addition to the EVM Sidechain, Ripple is researching native smart contract capabilities for the XRPL mainnet. The anticipated rollout of these features in early 2025 is set to mark a transformative period for the platform.
Ripple’s recent initiatives represent a concerted effort to enhance blockchain utility and support institutional adoption. By partnering with Futureverse for asset custody, expanding educational partnerships, and advancing programmability features, Ripple is positioning itself at the forefront of blockchain innovation.
As the company progresses toward its 2025 goals, these developments are expected to play a pivotal role in the evolution of the XRP Ledger and its ecosystem.
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