Ripple has undertaken the initiative to foster innovation on the XRP Ledger in Brazil by establishing the XRPL Grants Program, which provides financial support for project development.
In this matter, its vision coincides with that of the Brazilian government, which has exhibited considerable enthusiasm for the revolutionary possibilities of blockchain technology through endeavors such as the Regulatory Sandbox of the Banco Central do Brasil (BCB).
Ripple is engaged in backing the development of Web3-related projects on the XRP Ledger and has honed in on Brazil for its builder ecosystem, advanced digital payment framework, and futuristic policies pertaining to tokenizing capital markets.
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Ripple is reaching out to blockchain-oriented startups prepared to upgrade by utilizing the backing of the XRPL Grants Brazil Pilot Program. They believe that more businesses will follow suit in the coming days.
The program promotes the use of the XRPL and EVM sidechains and provides financial support to entrepreneurs through a Brazilian community fund.
The XRPL Grants Program has forwarded funds to two prospective projects that can continue their development activities on the XRP Ledger. One is goAssets, and the other is Cointimes.
The program is known to have engaged in funding operations earlier, involving businesses such as Amora, Cryptum, ThingsGo.Online, and XRPL Elixir.
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Where the program is concerned, this is only the beginning, with plenty more funding initiatives on the horizon. The program will further motivate these aspiring businesses to establish an environment that is inclusive, financially stable, and oriented toward enhanced efficiency through the support they receive.
