Ripple invests another $5 million in blockchain research!

Ripple invests another $5 million in blockchain research!

Ripple Labs has announced it will commit an additional $5 million to support academic research and blockchain talent development in the Asia-Pacific region. These funds will be distributed through the University Blockchain Research Initiative (UBRI), which has been supporting a new generation of developers, researchers and entrepreneurs for seven years. With this, Ripple expands its investments in this area after providing $25 million in RLUSD, a stablecoin, to non-profit educational organizations in the USA in May 2023. The aim of this current initiative is to broaden prospects in the region and drive growth in the fast-growing financial technology markets, particularly in the area of ​​payments technology.

Ripple’s new grants include key partnerships with universities in six countries. This includes a six-year partnership with Yonsei University in South Korea, supported by $1.1 million. In Japan, Kyoto University and the University of Tokyo will receive a total of $1.5 million. In Singapore, more than $3 million was awarded to Nanyang Technological University and the National University of Singapore. This funding will be used to initiate innovative research projects, including the development of an AI agent on the XRP ledger and the tokenization of real-world assets in Taiwan, where Ripple is collaborating with the National Kaohsiung University of Science and Technology.

Strategic partnerships and research projects

UBRI stands out for the variety of research areas it supports, including blockchain technologies, cybersecurity, information systems, as well as the study of Layer 2 solutions and NFT privacy. In addition to the partnerships mentioned, UBRI has connections to a total of 60 universities in 28 countries. In Australia, Ripple has increased collaboration with the Australian National University and partnered with Victoria University, increasing grants in this area to $1.3 million.

Ripple CEO Brad Garlinghouse has additionally announced that Ripple will provide $50 million to the National Cryptocurrency Association, a non-profit organization dedicated to improving crypto education in the US. Garlinghouse emphasizes the important role of education and enlightenment in the crypto industry. In this context, it is also noted the need for the price of XRP to fall below $1.95 before a potential rally towards $10 can begin.

These recent developments underscore Ripple's commitment to promoting blockchain education and innovation and represent a strategic investment in the future of cryptocurrencies and digital financial technologies.