- Ripple and Mercy Corps Ventures (MCV) launch “Unlocking Opportunity” to support emerging market entrepreneurs using blockchain solutions.
- The initiative emphasizes financial inclusion through XRPL and Ripple products like the Ripple USD stablecoin.
- The Crypto for Good Fund offers equity-free grants of up to $100,000 for Web3 projects in underserved regions.
Ripple has unveiled Unlocking Opportunity, the next phase of its partnership with Mercy Corps Ventures (MCV). This initiative targets emerging market entrepreneurs, offering financial and technical support to develop blockchain-powered solutions for financial resilience.
By focusing on use cases such as savings, remittances, and real-world asset tokenization, the company aims to transform underserved markets using its XRP Ledger (XRPL) and innovative tools like the RLUSD, according to the press release.
This extended collaboration builds on Ripple’s $5.5 million commitment to MCV, with plans to scale impactful solutions for small and medium enterprises (SMEs) in regions that need it most. Ken Weber, Ripple’s VP of Sustainability and Social Impact, expressed confidence in this partnership, emphasizing its potential to drive transformative change.
Ripple Partnership Powers Mercy Corps Ventures’ Blockchain Impact
Mercy Corps Ventures, the investment arm of the global humanitarian organization Mercy Corps, evaluates over 1,500 startups annually and backs innovative solutions tackling financial challenges in frontier markets.
Since joining forces with Ripple, MCV has supported 54 startups, including Ejara and Bitmama, which are revolutionizing financial inclusion in Africa. Ejara enables users in Cameroon to invest in tokenized assets like government bonds, while Bitmama leverages stablecoins to address remittance and currency issues.
Together, these startups exemplify the potential of blockchain technology in addressing real-world problems. Scott Onder, Chief Investment Officer at MCV, commended Ripple for its catalytic role in enabling impactful initiatives.
Crypto for Good: Unlocking Web3’s Potential
The partnership’s newest venture, the Crypto for Good Fund, offers grants of up to $100,000 for Web3 solutions that tackle financial and humanitarian challenges in underserved regions. The blockchain company and MCV invite innovators to leverage XRPL’s scalability and low costs for projects focusing on DeFi loans, stablecoins, and savings tools.
A webinar scheduled for December 3rd will provide guidance for builders interested in XRPL, emphasizing the upcoming EVM sidechain launch. This fund aims to replicate successes like Ejara’s tokenized bonds and DIVA Donate’s stablecoin-based climate financing for African farmers.
However, their shared vision reinforces their commitment to fostering resilient economies, ensuring that financial services reach the unbanked and underserved globally.
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