Ripple Labs is expanding its footprint in Japan with a startup support program backed by major banks, aiming to drive adoption and innovation on the XRP Ledger at a time of declining on-chain metrics.
Ripple Labs has launched a strategic push in Japan to reinvigorate development and activity on the XRP Ledger (XRPL) by backing early-stage companies building financial solutions on the blockchain. This effort centers around the Japan Financial Infrastructure Innovation Program, a joint initiative with Asia Web3 Alliance Japan and Web3 Salon, and supported by key traditional financial players including Mizuho Bank, SMBC Nikko Securities and Securitize Japan.
The program, which began accepting applications in December 2025, offers $10,000 grants per startup and focuses on three priority verticals: stablecoins, real-world asset tokenization and credit infrastructure.
By channeling support into these high-value sectors, Ripple aims to foster practical, compliant uses of the XRPL and attract innovative teams to build next-generation financial applications using its low-cost, high-speed blockchain technology.
Innovation program targets stablecoins, tokenized assets and credit infrastructure
Ripple sees Japan as a particularly fertile market for blockchain innovation thanks to its forward-thinking regulatory framework and deep pool of technical talent. The initiative is positioned as a way to create a thriving ecosystem where startups can use XRP Ledger’s capabilities to enhance financial infrastructure — potentially bridging the gap between traditional banking institutions and decentralized technologies.
Yet this push comes amid softer on-chain trends for the XRPL. Data from tracking platforms indicate that the Total Value Locked (TVL) on XRPL’s DeFi protocols has fallen roughly 50% from its mid-year peak, suggesting reduced capital engagement even as corporate partnerships deepen.
Additionally, when it comes to tokenized real-world assets globally, XRPL currently ranks ninth in total value, with approximately $213 million represented — a modest figure compared with larger ecosystems such as Ethereum.
By embedding itself within Japan’s financial infrastructure and supporting compliant blockchain solutions, Ripple aims to create a sticky ecosystem that may be more resilient to speculative market swings and better positioned for long-term utility adoption. If successful, this approach could strengthen XRPL’s base of developers, institutions and real-world use cases in one of the world’s most advanced economies.
