Saad Ullah
Ripple (XRP) collaborates with Futureverse to provide secure self-custody services, expanding blockchain adoption in Asia.
Ripple Expands in Asia With Futureverse Partnership
Ripple (XRP) continues its push for blockchain adoption in the Asia-Pacific region by announcing a strategic partnership with South Korea-based AI and Metaverse firm, Futureverse. This collaboration is designed to provide enhanced self-custody services for Futureverse's customers, ensuring the safe storage and security of their cryptocurrencies. As part of the deal, Ripple's custody services will act as a transitional storage solution for digital assets, while Futureverse mints them on its proprietary Otto blockchain.
Futureverse has committed to offering users secure, KYC-verified access to decentralized finance (DeFi) services. Furthermore, the South Korean AI firm will adopt Ripple's XRPL non-fungible token (NFT) standards, taking advantage of the XRPL network's high performance and cost efficiency. In addition to this, XRP will serve as the Otto blockchain's native gas fee token, and the XRPL decentralized exchange will function as its liquidity provider.
Futureverse Leverages Ripple (XRP) for Crypto Custody
As the global crypto custody market is expected to grow to $10 billion within the next six years, Futureverse sees Ripple's scalability and reliability as essential components for success. The company chose Ripple for its cutting-edge governance framework, designed to protect a wide range of digital assets. Jeffrey McDonald, Futureverse's Chief Customer Officer, emphasized the firm's confidence in Ripple, citing their strong relationship and Ripple's expertise.
Ripple (XRP) supports various cryptocurrencies, including stablecoins, and offers remittance services in over 80 markets worldwide. Futureverse and Ripple's partnership is not new; in July 2023, Ripple and 10T led a Series A fundraiser for Futureverse, raising $54 million to fuel its metaverse expansion.
Ripple (XRP) Strengthens Presence Through Academic Partnerships
Ripple's efforts to spread blockchain adoption in Asia don't stop with Futureverse. On Tuesday, Ripple announced additional partnerships, particularly in the academic sector. The company's University Blockchain Research Initiative (UBRI) has added South Korea's Yonsei University to its growing list of partners. Yonsei University is now Ripple's 58th partner overall and its 12th in Asia.
As part of the collaboration, Ripple will provide grants to Yonsei University to promote blockchain education and integration among students. The UBRI will also sponsor hackathons and support the launch of an XRPL validator at the university. Since its inception in 2018, Ripple's UBRI has received over $60 million in funding.
Conclusion
Ripple's ongoing partnerships in both the commercial and academic sectors demonstrate the company's commitment to expanding blockchain technology across the Asia-Pacific region. As blockchain continues to gain traction, Ripple's strategic collaborations with firms like Futureverse and institutions like Yonsei University position the company as a key player in the global crypto ecosystem.
Saad Ullah
