Ripple Expands XRPL Enterprise Solutions to Japan in Collaboration with HashKey DX
Ripple, a leading crypto firm, is making significant strides in expanding its XRP Ledger enterprise solutions to Japan through a strategic partnership with HashKey DX. This collaboration, announced on April 30, will see HashKey DX working closely with Ripple and SBI Ripple Asia to develop and implement supply chain finance solutions tailored specifically for the Japanese market.
HashKey Group, the parent company of HashKey DX, brings a wealth of expertise and a proven track record in blockchain-powered supply chain finance solutions in mainland China. Their existing solution, launched in 2019, has already seen tremendous success with over 4,000 registered companies, including 23 banks and 4,300 suppliers. The platform has facilitated trade transactions exceeding $7 billion and financing transactions nearing $3 billion.
Andy Dan from HashKey DX expressed confidence in the partnership, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution, with its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability.”
Meanwhile, Ripple continues to face legal challenges in the United States, particularly in its ongoing battle with the SEC. The latest development involves the potential testimony of SEC accountant Andrea Fox and its implications for the fines imposed on Ripple. The SEC argues that Fox serves as a summary witness, presenting evidence efficiently to Judge Torres without offering expert opinions.
Initially, the SEC sought penalties of around $2 billion against Ripple, but the company has proposed a more modest $10 million fine, disputing the severity of the regulator’s requested penalties. The outcome of this legal tussle will undoubtedly have significant implications for Ripple and the broader crypto industry.
