Ripple Declares 'Finance-Oriented Mainnet' in Singapore… Strengthening 'XRP Ledger' in Earnest [APEX 2025 On-site+]

Ripple 'APEX 2025 Singapore' On-site Sketch

Ambition to Become a 'Finance-Oriented Mainnet'

Expectations for Growth of RLUSD and XRP Ledger

EVM Sidechain Launch in Q2

Attention to Korea’s Virtual Asset Regulations

"Ripple is a mainnet for finance." "Ripple serves as a bridge between traditional finance and Web3."

Brad Garlinghouse, CEO of Ripple, stated this at Ripple’s own event 'APEX 2025' held on the 11th (local time).

APEX is an annual event hosted by Ripple in various locations worldwide, and this year it took place at Raffles City, Singapore from the 10th to the 12th. About 800 participants, including developers, gathered to share a variety of information related to the Ripple ecosystem during APEX 2025.

On-chain Finance Full-scale with RLUSD and XRP Ledger

Although this APEX was developer-centric, many topics related to finance were discussed. Especially, the stablecoin RLUSD (a virtual asset linked to fiat currency) and XRP Ledger, both issued by Ripple since last year, were highlighted throughout the event for their strengths in the financial sector.

Furthermore, to evolve into a finance-specialized mainnet, Ripple explained that it has prepared measures such as the $1.25 billion acquisition of Hidden Road and the introduction of the Ethereum Virtual Machine (EVM) Sidechain.

CEO Garlinghouse, during the press conference, stated, "Stablecoin RLUSD from Ripple can be used as collateral for all services at Hidden Road," emphasizing, "RLUSD will be the first stablecoin enabling efficient large-scale cross-margin trading between virtual assets and traditional financial markets, with its particular strength being 24/7 year-round availability."

Monica Long, President of Ripple, remarked, "Last year we launched RLUSD, and we are providing it as a payment solution to various clients in the Asia region," adding, "Within just a few months, RLUSD's market capitalization has approached $400 million." She continued, "The next stage of stablecoin adoption is usability, and RLUSD is designed for practical use."

The introduction of the EVM Sidechain, which could be the key to decentralized finance (DeFi) within the XRP Ledger, is expected soon. David Schwartz, CTO of Ripple, and Reggie Cooper, Director of Product Management, stated, "XRP Ledger is a mainnet for finance," adding, "In particular, in Q2, the EVM Sidechain mainnet will launch to further drive ecosystem growth."

High Expectations from Ecosystem Participants Like Ondo and Axelar

Meanwhile, this event provided a direct opportunity to witness the much-talked-about XRP Ledger community first-hand. At the venue were Ondo Finance (ONDO), which recently formalized the issuance of tokenized U.S. Treasuries ‘OUSG’ on the XRP Ledger, and Axelar (WAXL), responsible for strengthening interoperability within the XRP Ledger.

Other participants filling the community space included Adonos, which operates DeFi businesses on the XRP Ledger; Xaman Wallet, the XRP Ledger wallet; and Tenity, which serves in an accelerator role for the XRP Ledger.

These companies shared viewpoints similar to Ripple’s. Ian de Bode, Chief Strategy Officer of Ondo Finance, commented, "In the past, blockchain was seen only as an internal process improvement tool, but now the situation has changed. In the next five years, the globalization of on-chain finance through blockchain technology will be realized." He added, "OUSG is currently issued on only three chains," and, "I believe XRP Ledger is the optimal choice as it already has the most significant track record for institutional use."

Panos Adonos, founder of Adonos, said, "Currently, virtual asset finance is confusing and very difficult for the general public to access," emphasizing, "XRP Ledger will reduce such friction and accelerate the realization of a global on-chain economy." He also noted, "In the XRP Ledger, new features like Know Your Customer (KYC), various virtual asset escrow services, and passkey reforms are being proposed, which will significantly improve accessibility for ordinary users."

Korean virtual asset figures also participated and shared their views. Byungho Ko, CEO of Catalyze and a speaker at the event, stated, "XRP Ledger is working on institutional integration in Korea. For example, Girin Wallet of Girin Labs, which was selected as a beneficiary of the XRP Ledger Japan-Korea Fund, rose to second place in the ecosystem in just six months." CEO Ko added, "An event for Korean XRP investors is also being conceived, aiming to create opportunities for Korean XRP investors and the XRP Ledger ecosystem to interact." In addition, numerous Korean projects including ZCrypto, Girin Labs, and BDEX were confirmed to have participated in this event.

Korea’s Growth Will Accelerate With Regulatory Clarity

Ripple also expressed keen interest in changes in Korea's virtual asset regulatory environment. CEO Garlinghouse stated, "I understand that during the recent Korean presidential election, major candidates announced crypto-friendly pledges," noting, "With the new administration, regulatory clarity for Korea’s virtual asset sector is expected to increase."

Fiona Murray, Head of Asia-Pacific (APAC) at Ripple, said during a private session, "Korea is still in its early stages with tokenization or the stablecoin (virtual asset linked to fiat currency) business, but as digital assets such as XRP are already hugely popular among Korean individual investors, if these businesses can get started, their growth rate would be tremendous."

She continued, "Ripple is closely monitoring Korea’s digital asset regulatory environment," underlining, "There are great expectations, especially regarding the roadmap for institutional adoption."

Singapore=Jinwook, Bloomingbit Reporter wook9629@bloomingbit.io