- Ripple will introduce smart contracts on the XRP Ledger Mainnet by 2025, enabling NFTs, AMMs, and DEXs.
- Ripple will add an EVM sidechain to the XRP Ledger, expanding programmability.
- Ripple partners with Futureverse for secure asset storage and KYC compliance.
Ripple, a leading blockchain-based digital payment network and protocol, has announced significant advancements in Korea and Japan. The company has forged valuable partnerships with a plan to enhance the adoption and functionality of blockchain technology across institutions in these regions.
In a long X (Twitter) thread today, Ripple revealed that smart contracts will soon be introduced to the XRP Ledger Mainnet. This development will enable new features such as NFTs, automated market makers (AMMs), decentralized exchanges (DEXs), and more, directly on Layer 1. This upgrade is expected to enhance XRPL’s capabilities and make it a versatile platform for various applications.
Ripple is on the ground this week in Korea and Japan, starting off with a few key announcements – all in service of the goal to strengthen the foundations of crypto infrastructure to support blockchain utility and usability for institutional adoption.
— Ripple (@Ripple) September 3, 2024
In addition to smart contracts, Ripple is set to launch the XRPL Ethereum Virtual Machine (EVM) Sidechain in the coming months through 2025. This sidechain will bring further programmability and support a range of new applications, complementing the upcoming smart contract features.
Ripple Partners with Futureverse and Invests $1B in XRPL
The blockchain payment company has secured a key partnership with Futureverse, a firm specializing in AI and metaverse technology. This collaboration will see Ripple Custody providing secure asset storage solutions for Futureverse, which is integrating XRP as the gas token on the Root Network and leveraging the XRP Ledger (XRPL) NFT standard.
Additionally, Futureverse’s connection to XRPL’s decentralized exchange (DEX) will boost network liquidity, reflecting Ripple’s commitment to merging blockchain technology with cutting-edge innovations.
Furthermore, Ripple has committed $1 billion to strengthen the XRPL ecosystem, with substantial investments focused on Japan and South Korea. This funding emphasizes Ripple’s confidence in these regions as key players in blockchain innovation.
In addition, Ripple’s University Blockchain Research Initiative (UBRI) adds Yonsei University from Korea as its latest global partner. This partnership aims to bolster academic research and support within the blockchain space through strategic resources and funding.
Highlighted Crypto News Today
Ripple CLO Criticizes SEC Over Use of Crypto Asset Security Term
