Bittime - Ripple announced that it is establishing further collaboration with Mercy Corps Ventures. Check out the reasons behind this collaboration in this article.
Ripple announced a new chapter in its collaboration with Mercy Corps Ventures (MCV), the impact investment organization of Mercy Corps. This collaboration aims to strengthen financial inclusion solutions through innovative technology that reaches small to medium enterprises (MSMEs) in developing markets.
Ripple Announces Collaboration with Mercy Corps Ventures
Ripple has just launched the latest phase of its partnership with Mercy Corps Ventures titled "Unlocking Opportunity". This program is designed to support MSMEs and startups that focus on developing financial resilience using blockchain technology and fintech innovation.
In this collaboration, Ripple provides financial and technical support to various fintech companies. This includes those utilizing the XRP Ledger (XRPL) and other Ripple products such as the Ripple USD stablecoin (RLUSD).
The collaboration has a primary focus on use cases that support financial inclusion, such as savings, remittances, micropayments, and tokenization of real-world assets.
As part of its commitment, Ripple has injected more than $5.5 million (around IDR 89.1 billion) to support this initiative.
Read also: December 2024 FOMC Meeting Results for 2025, Here are the Contents!
Reasons for Collaboration between Ripple and Mercy Corps Ventures
Mercy Corps Ventures is known as an organization that supports startups with high impact in emerging markets. They assess more than 1,500 startups every year and invest in companies that offer financial inclusion solutions.
This collaboration aims to expand access to financial services for underserved communities.
To date, the partnership between Ripple, Rippleworks, and Mercy Corps Ventures has supported 54 early-stage companies, of which 44% have female co-founders. As a result, these startups managed to raise more than $500 million (around IDR 8.1 trillion) in follow-up funding.
Some examples of successful Mercy Corps Ventures investments include Ejara in Cameroon and Bitmama in Africa. Ejara provides savings products based on asset tokenization such as government bonds.
Meanwhile, Bitmama leverages stablecoin infrastructure to overcome challenges such as currency devaluation and high remittance costs.
Scott Onder, Chief Investment Officer of Mercy Corps Ventures, highlighted the importance of this collaboration. He called Ripple a partner that helps create significant impact through the application of Web3 technology in emerging markets.
Read also: Ripple (XRP) vs Cardano (ADA): Which is More Worth the Investment?
Conclusion
With a shared vision of creating global impact, the Ripple and Mercy Corps Ventures partnership continues to expand towards broader and more sustainable financial inclusion solutions.
The "Unlocking Opportunity" program not only helps small and medium businesses but also supports technological innovation that has the potential to change the traditional financial system.
This partnership shows that blockchain technology is not only relevant for digital transactions but also has a big role in creating a financial system that is more inclusive, sustainable and adaptive to global challenges.
With support from Ripple and Mercy Corps Ventures, the economic future in emerging markets looks even brighter.
FAQs About Ripple
What is Ripple?
Ripple is a leading provider of crypto-enabled solutions for businesses. Our mission is to build breakthrough crypto solutions for a world without economic borders.
What is the difference between Ripple and XRP?
Ripple is a technology company and XRP is an open source digital asset independent of Ripple. Ripple uses XRP in its solutions because it is fast, efficient, reliable and carbon neutral - and because XRP seamlessly supports our customers' compliance efforts.
How to buy Ripple shares?
Ripple is not a public company.
How to Buy Crypto on Bittime
Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.
Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.
Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.
Reference
Binance Square, Ripple and Mercy Corps Ventures deepen partnership to support emerging market businesses, accessed December 19, 2024.
Ripple, Unlocking Opportunity: Ripple and Mercy Corps Ventures Expand Partnership to Equip Emerging Market Entrepreneurs, accessed December 19, 2024.
Author: Y
Comments
0 comments
Please sign in to leave a comment.