Ripple has been quietly making significant moves while the crypto community focuses on its ongoing legal battles with the SEC. In its newly released 2024 Ripple Impact Report, the company disclosed its expansion efforts into humanitarian aid and financial services aimed at the unbanked, utilizing blockchain technology to reshape how emergency funds and small businesses operate.
Ripple's Impact Finance strategy, which marks its eighth year of commitments, has allocated $200 million to social initiatives. With this funding, Ripple plans to back projects using the XRP Ledger (XRPL) to enhance financial inclusion and aid delivery. A notable collaboration with Mercy Corps Ventures and DIVA Donate in Kenya has seen the launch of a pilot program that employs Ripple's stablecoin, Ripple USD (RLUSD), to deliver emergency funds while reducing transaction costs by 75% and accelerating fund delivery by 90% compared to conventional methods.
RLUSD, launched in December 2024, is designed for humanitarian aid and financial support rather than just trading. Ripple's aim is to highlight how stablecoins can be utilized for life-saving purposes beyond mere speculation. The company plans to leverage RLUSD for cross-border cash aid and services in underserved regions.
Furthermore, Ripple's longstanding relationship with Mercy Corps Ventures emphasizes supporting small businesses and farmers. In 2024, the initiative funded eight fintech startups and initiated seven blockchain pilots, including one in Spain and Colombia that enhances supply chain transparency while offering farmers innovative finance options such as "Farm Now, Pay Later."
In a bid to promote financial inclusion, Ripple has collaborated with UC Berkeley's Lab for Inclusive FinTech (LIFT) since 2020. This partnership has funded 25 research projects across 14 countries, focused on creating ethical blockchain solutions for the 1.4 billion individuals globally who lack banking access.
Ripple's Impact Finance strategy, which marks its eighth year of commitments, has allocated $200 million to social initiatives. With this funding, Ripple plans to back projects using the XRP Ledger (XRPL) to enhance financial inclusion and aid delivery. A notable collaboration with Mercy Corps Ventures and DIVA Donate in Kenya has seen the launch of a pilot program that employs Ripple's stablecoin, Ripple USD (RLUSD), to deliver emergency funds while reducing transaction costs by 75% and accelerating fund delivery by 90% compared to conventional methods.
RLUSD, launched in December 2024, is designed for humanitarian aid and financial support rather than just trading. Ripple's aim is to highlight how stablecoins can be utilized for life-saving purposes beyond mere speculation. The company plans to leverage RLUSD for cross-border cash aid and services in underserved regions.
Furthermore, Ripple's longstanding relationship with Mercy Corps Ventures emphasizes supporting small businesses and farmers. In 2024, the initiative funded eight fintech startups and initiated seven blockchain pilots, including one in Spain and Colombia that enhances supply chain transparency while offering farmers innovative finance options such as "Farm Now, Pay Later."
In a bid to promote financial inclusion, Ripple has collaborated with UC Berkeley's Lab for Inclusive FinTech (LIFT) since 2020. This partnership has funded 25 research projects across 14 countries, focused on creating ethical blockchain solutions for the 1.4 billion individuals globally who lack banking access.
