Ripple Encourages Blockchain Technology Adoption In Developing Countries

JAKARTA - Ripple Labs, a blockchain-based cross-border payment company and coin manager of XRP from the United States, launched a program titled Unlocking Opportunity as part of an effort to expand blockchain technology adoption in developing countries. This program is the result of partnerships with Mercy Corps and is designed to support Small and Medium Enterprises (SMEs) as well as entrepreneurs who take advantage of Ripple technology.

The program offers funding of up to USD 100,000 (approximately IDR 1.58 billion) to innovators using XRP Ledger or RLUSD stablecoin, which is currently still under development.

The main focus of this initiative is to increase financial inclusion through solutions such as savings, remittances, micro payments, and tokenization of real-world assets. In addition, this program also supports projects related to DeFi-based loans and distribution of humanitarian aid with stablecoins.

Ripple Labs has allocated more than $5.5 million to Mercy Corps Ventures to support 54 early-stage startups, of which 44% of the companies have female founders. This commitment demonstrates Ripple's efforts to drive inclusive and social impact innovations.

At the same time, Ripple is also planning to launch a RLUSD stablecoin. Although RLUSD has not been officially launched, Ripple Labs CEO Brad Garlinghouse said that this stablecoin is an important part of a broader payment revolution plan. RLUSD intensive testing is being carried out on the XRP Ledger and Ethereum networks to ensure the stability and reliability of the product.

However, regulatory hurdles are still a major challenge before RLUSD can enter the market. Ripple is optimistic that the 'Unlocking Opportunity' program will not only expand the reach of blockchain technology in developing countries but also strengthen the position of XRP Ledger and RLUSD stablecoins in the future.