Ripple Labs to invest $5M in Asia-Pacific blockchain research

Ripple Labs plans to allocate an additional $5 million to advance blockchain research and cultivate talent in the Asia-Pacific region, Cointelegraph reported. In a blog post published on June 10, Ripple Labs stated that the funding will be channeled through its University Blockchain Research Initiative (UBRI), extending support to institutions in six countries. The latest round of grants will include universities in Taiwan and Australia. UBRI has already pledged $1.1 million to Yonsei University in South Korea as part of a six-year collaboration, and $1.5 million collectively to Kyoto University and the University of Tokyo in Japan.