Key Notes
- Ripple Labs inked a strategic partnership with Web3 Salon to support XRPL innovators.
- Each project in the program can get a grant as high as $200,000.
- Ripple is intentionally expanding its footprint in Japan in the quest for Web3 dominance.
Blockchain payments firm Ripple Labs Inc.
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has formed a strategic partnership with Web3 Salon to launch a new funding initiative. Web3 Salon is a project supported by the Japan External Trade Organization (JETRO).
The Ripple Labs Web3 Salon Offer
The newly launched program is designed to provide up to $200,000 in grant funding for Japanese Web3 startups building on the XRP Ledger (XRPL). This initiative aligns with Ripple Labs’ ongoing commitment of 1 billion XRP to support blockchain innovation across Asia. Its goal is to accelerate the financial, technical, and business growth of blockchain developers in the region.
This funding initiative between Ripple Labs and Web3 Salon targets early-stage startups working with XRPL.
Each participating project must work around Decentralized Finance (DeFi), digital payments, and tokenization, as these are the main focus areas. Also, each project can receive as much as $200,000 over the next year.
Ripple has intentionally boosted blockchain technology innovation in Japan and South Korea. Eventually, this led the digital payment company to launch an initiative called the XRPL Japan and Korea Fund in June 2024. At the time, this initiative gave credence to Ripple’s dedication to growing its influence in the Asia-Pacific region.
The fund focuses on supporting various projects, ranging from corporate partnerships, developer grants, startup investments, to community development.
Emi Yoshikawa, Vice President of Strategic Initiatives, Ripple, highlighted the importance of this move, saying that “The launch of this fund is a testament to Ripple’s strong belief in the potential of Japan and Korea as pivotal regional hubs for blockchain innovation.”
Beyond the financial contribution this Ripple and Web3 Salon collaboration brings to developers, it also provides them with unhindered access to the San Francisco-based firm’s global network of partners.
Ripple’s Mega Footprint in Japan
Ripple has established a strong presence in Japan through key partnerships and collaborations. Nine years ago, Japanese financial giant SBI Holdings partnered with Ripple Labs to create a joint venture aimed at promoting blockchain technology. More recently, in July 2024, the Tokyo-based company launched NFT services on the XRP Ledger.
This offered users the ability to collect the NFTs nicknamed “Myaku N!” on the EXPO2025 Digital Wallet. The wallet was used at an expo held in Osaka/Kansai.
In September 2024, Ripple announced a collaboration with Futureverse, an AI and metaverse company. This partnership specifically involved Ripple Custody, aiming to ensure the safety and security of Futureverse’s digital assets.
Jeffrey McDonald, Chief Customer Officer at Futureverse, explained that their integration with Ripple Custody was driven by Ripple’s robust security features, which provide strong protection for their customers’ digital assets.
Around the same time, Ripple’s University Blockchain Research Initiative (UBRI) welcomed Yonsei University in Korea as its 58th global partner. This move reflects Ripple’s commitment to expanding its efforts in promoting academic excellence and advancing research in blockchain technology.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
