Apr 19, 2025
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Ripple Partners with HashKey to Launch Asia’s First XRP Tracker Fund
Ripple is entering the Asian market with a new XRP product designed to enhance institutional adoption. This initiative is in collaboration with HashKey Capital, which launched the first XRP Tracker Fund in Asia. Key points include:
- HashKey Capital announced the fund via social media.
- The fund aims to increase institutional access to XRP.
- XRP facilitates faster and cheaper cross-border payments compared to traditional systems like SWIFT.
- The Tracker Fund follows HashKey’s previous Bitcoin and Ethereum ETFs.
- There is potential for the fund to convert into an ETF pending regulatory approval within 1-2 years.
- Ripple will provide initial investment as an anchor investor.
- Collaboration includes exploring new financial products and tokenization on the XRP Ledger.
Additionally, Ripple has acquired prime broker Hidden Road for $1.25 billion, aiming to enhance XRP's utility in both traditional and decentralized finance sectors. There are also unconfirmed reports suggesting that the Federal Reserve may consider using XRP for its FedNow payment system, following meetings with Ripple. The ongoing lawsuit with the US SEC appears to be nearing resolution, potentially encouraging more partnerships with financial institutions.
