- Ripple has made significant progress in promoting financial inclusion through partnerships with NGOs and researchers, funding investments, and pilots.
- The RippleImpact 2022 report shows how it leveraged blockchain and digital asset technologies to empower underserved communities worldwide.
Although being embroiled in a long-going battle with the US SEC, blockchain startup Ripple has been the forerunner in undertaking major initiatives in undertaking different initiatives. Recently, Ripple shared its last year’s impact report and how it has managed to touch and transform lives through its ground-breaking technological innovation and other collaborations for environmental and social progress.
Ripple partners with NGOs and researchers to drive global financial inclusion through blockchain and digital asset technologies. In 2022, partnerships with organizations like Mercy Corps Ventures, CARE, and UC Berkeley helped Ripple advance the goal of increasing equity and economic opportunities for underserved communities.
Ripple Impact has invested $10M in Mercy Corps Ventures, funding 49 investments and six pilots in Africa and Latin America. These initiatives use digital financial technologies to integrate people in emerging markets into the global digital economy. Also, the projects span 23 countries and benefit various groups, including smallholder farmers, unemployed youth, and entrepreneurs.
With support from Ripple, Mercy Corps Ventures also launched a pilot with Ejara, West Africa’s first female-founded crypto investments platform. As part of this project, Ripple will test a high-yield savings product for low-income users using bond tokenization on the blockchain.
CARE, a leading NGO, works globally to empower women and girls, eradicate poverty, and promote social justice. Ripple was the first to support CARE in exploring blockchain and crypto programs. With support from Ripple, Binance Charity, and UC Berkeley’s Lab for Inclusive Fintech, CARE piloted the use of crypto-based vouchers in Kenya.
Blockchain Research and Innovation
Ripple continued to make a strong push toward blockchain research and innovation. Ripple’s UBRI is a groundbreaking program that partners with leading universities worldwide to foster fintech innovation. It also provides valuable insights to developers, governments, central banks, and private sector companies.
In 2022, UBRI achieved significant milestones by promoting diversity in the fintech workforce. Through collaboration with academic institutions, the initiative encourages women and people of color to pursue careers in blockchain and crypto. Also, the aim is to create a more inclusive and equitable future for the global financial system.
Ripple’s collaboration with UBRI partners goes beyond financial support. It provides guidance, resources, and drives research to promote inclusive economic growth and global crypto adoption.
By the end of 2022, UBRI had 50 university partners across 20 countries, with a record number of published research projects in a single year. The UBRI network has grown steadily since its launch in 2018, creating a more diverse and global ecosystem.
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Building a Sustainable Crypto and Fintech Industry
Achieving the Paris Agreement’s goal of limiting global warming requires urgent action. Ripple is committed to reaching carbon net zero by 2030 and has pledged $100 million to support carbon and ecological markets. Innovative technologies like blockchain are crucial for accelerating emissions reductions and permanent carbon removal.
Ripple pledged $100M to accelerate carbon removal efforts and modernize carbon markets. They are utilizing blockchain technology to tokenize carbon credits on the XRP Ledger, making the process more efficient. Ripple also supports high-impact carbon removal projects through direct investment and collaborates with innovative companies in the carbon removal space.
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