Ripple has announced key partnerships in South Korea aimed at blockchain adoption across the Asia-Pacific region. One of these collaborations is with Futureverse, a South Korea-based company specializing in AI and metaverse technology.
Ripple will now provide secure self-custody services for Futureverse, allowing users to safely store their digital assets and protect their cryptocurrencies.
Ripple Custody offers temporary storage for digital assets, which Futureverse will later issue onto its Otto blockchain. Futureverse aims to provide users access to decentralized finance (DeFi) services verified through know-your-customer (KYC) protocols.
Futureverse has fully embraced the XRPL network, adopting its non-fungible token (NFT) standards due to its high efficiency and cost-effectiveness. The company also plans to utilize XRP as the native gas fee token for the Otto blockchain, while the XRPL decentralized exchange (DEX) will serve as a key source of liquidity.
Futureverse and Ripple: A Strengthened Collaboration
Futureverse has emphasized the importance of Ripple’s reliability and scalability in the context of a rapidly growing crypto custody market, which is projected to reach $10 billion in the next six years.
The company’s decision to partner with Ripple was largely driven by Ripple’s advanced governance framework, which ensures the secure management of a wide range of digital assets.
Jeffrey McDonald, Chief Customer Officer at Futureverse, expressed confidence in Ripple’s capabilities and highlighted their long-standing relationship.
According to McDonald, Ripple’s proficiency in managing digital assets and its wide-ranging global network made it an ideal partner. Ripple supports a broad range of cryptocurrencies, including stablecoins, and provides payment services to customers in over 80 markets globally.
The partnership between Ripple and Futureverse first gained traction in 2023 when Ripple and 10T, led a Series A funding round for Futureverse. The initiative successfully raised $54 million to support Futureverse’s metaverse-related projects.
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Expanding Ripple’s Influence in Asia
In addition to its partnership with Futureverse, Ripple has announced new initiatives to accelerate blockchain adoption throughout Asia. As part of its efforts, Ripple’s University Blockchain Research Initiative (UBRI) has added South Korea’s Yonsei University as its latest partner.
Yonsei University, which becomes Ripple’s 12th partner in Asia and 58th globally, will receive grants to help integrate blockchain technology into its academic programs. The partnership will also enable Yonsei students to participate in hackathons and support the launch of an XRPL validator on the university’s campus.
Launched in 2018, Ripple’s UBRI program has allocated over $60 million in funding to universities worldwide to promote blockchain education and research. The initiative aims to develop the next generation of blockchain innovators and ensure that institutions around the globe can engage with this new technology.
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