In a recent announcement, Ripple developer arm announced the recipients of XRPL Grants Wave 6, which awarded a total of $1.3 million to 22 innovative projects in 13 countries. The projects span various verticals in the Web3 space, including GameFi, DeFi, NFTs, developer tools, and more. The honorees were selected by a global panel of experts, reflecting Ripple’s commitment to driving innovation on the XRP Ledger (XRPL). Here are the details…
Ripple gives rewards to new projects
Prominent projects include EVM Finance, a unified interface for DeFi and serving as a hub for asset management, trading, transactions and NFT launches. Another notable buyer, DeXfi, positions itself as a comprehensive DeFi one-stop shop on XRPL and has raised $50,000 in funding. In the AI space, ChatXRP received $75,000 for providing a stress-free gateway to Web 3.0 services through its user-friendly interface.
Financial support ranges from microgrant funding (under $10,000) for seven bottom-tier projects to significant funds exceeding $100,000 for six projects. The fact that 55% of the awardees are based outside the US is in line with Ripple’s strategic decision to expand globally and enter jurisdictions considered more crypto-friendly.
Latest developments in the ecosystem
In parallel with these developments, Ripple is making progress by achieving significant partial court victories in the SEC case. In addition, XRP has experienced notable whale activity, and whales have moved significant amounts over the past week. This development further strengthens XRP’s position and has been relisted on the CEX.io exchange, which is a positive move for the cryptocurrency.
Like clockwork, XRP Ledger successfully closed 84 millionth ledger a few moments ago: https://t.co/JT3Yv0uqcd https://t.co/nVxmtAeNcG pic.twitter.com/9cOQ94C8Pf
— XRPScan (@xrpscan) November 18, 2023
On the other hand, XRP Ledger has reached a new and important milestone. XRPScan, an XRP Ledger explorer and network analysis platform, announced this milestone. He reported that XRP Ledger’s 84 millionth ledger has been successfully closed, marking a new milestone for the Layer 1 platform. XRP Ledger closed its 83 millionth ledger on October 5, completing 1 million ledger transactions in six weeks. Also last week, two new XLS features were released for the XRP Ledger.
Very active in terms of CBDCs
Separately, Ripple’s VP of CBDC Engagement James Wallis highlighted the transformative potential of Central Bank Digital Currencies (CBDCs) in a one-minute video. Wallis emphasized the role of CBDCs in increasing financial inclusion globally, especially for individuals with low incomes and those without previous relationships with financial institutions.
Identifying low income and lack of pre-existing relationships as key factors contributing to financial exclusion, Wallis explained that CBDCs offer a cost-effective solution. By providing simplified payment options and credit-building opportunities, CBDCs encourage business growth by enabling individuals to build credit histories and access financial services. Ripple’s active collaboration with more than 20 central banks worldwide on CBDC initiatives underscores its role as a technology partner in the adoption and implementation of CBDCs.
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