In a major stride, Ripple has successfully enhanced its presence in Asia after a leading financial technology firm made a notable transition. This strategic alliance signifies Ripple’s growing influence, as Linklogis, a prominent player in the fintech sector, has decided to migrate its extensive trillion-dollar supply chain finance platform to the XRP Ledger (XRPL).
Linklogis Integrates Trillion-Dollar Platform With XRPL
According to WhaleWire, a well-known cryptocurrency monitoring service, Linklogis has chosen XRPL to bolster its significant supply chain finance operations. This integration is poised to enhance efficiency in managing extensive cross-border financial transactions. WhaleWire highlights that with XRPL facilitating real-world assets and global transactions, Ripple secures a noteworthy win in expanding its ecosystem.
Linklogis already boasts an impressive operation scale. In 2024 alone, it processed RMB 20.7 billion, or about $2.9 billion, in cross-border transactions across 27 different nations. The need for robust solutions at such a scale is critical. Hence, Linklogis opted for XRPL, which is known for its high throughput and rapid settlement capabilities.
This strategic move will allow Linklogis to transform invoices and receivables directly to blockchain-based digital tokens. The tokenization not only streamlines the trading and settlement process for businesses working with Linklogis but also minimizes associated risks. Tracking and securing every transaction on the blockchain enhances the trustworthiness of trade assets significantly.
Ripple and Linklogis are set to collaborate on launching the Linklogis global digital supply chain finance application on XRPL’s mainnet. The planned integration aims to enable the issuance and settlement of digital assets linked to tangible trade flows directly on the blockchain.
Following this initial integration, Ripple and Linklogis are keen on exploring further avenues for cooperation. Potential developments could enhance XRPL’s functional capacities in enterprise financial systems, encompassing areas like stablecoins, smart contracts for supply chain asset trading, and the integration of artificial intelligence with blockchain for improved trade finance solutions.
Ripple Deepens Its Footprint in Asia’s Financial Sector
This partnership signifies one of many rapid developments as Ripple solidifies its footprint in Asia. Notably, in South Korea, a custody provider named BDACS recently launched advanced XRP storage solutions, catering to major cryptocurrency exchanges while complying with local regulations. Meanwhile, in Japan, SBI Holdings is gearing up to list Ripple’s XRP stablecoin and is also exploring the issuance of yen-linked digital tokens.
Additionally, Ripple is fostering innovation through the Web3 Salon, which offers grants up to $200,000 for projects developed on the XRP Ledger. With Linklogis now utilizing XRPL in one of China’s largest fintech ecosystems, it presents an opportunity for Ripple to further integrate into the Asian financial sector. Even amid China’s prohibition on domestic cryptocurrency operations, Linklogis can leverage blockchain technology for its international supply chain requirements using the XRPL framework.
