Ripple is pleased to announce Unlocking Opportunity, which is described as the next phase of their partnership with Mercy Corps Ventures (MCV) supporting emerging market SMEs building solutions for financial “resilience” via blockchain and Fintech innovation.
The partnership will include financial and technical support from Ripple for fintechs and SMEs—including those leveraging the XRP Ledger (XRPL) and Ripple’s products such as the “pending Ripple USD stablecoin (RLUSD)—focusing on financial inclusion use cases such as savings, remittances, micropayments, and tokenization of real-world assets.”
With a focus on scalable solutions, Ripple has now committed over $5.5M to support Mercy Corps Ventures. MCV is the impact investing arm of Mercy Corps, a development and humanitarian organization.
They have visibility into high-potential startups across frontier markets, evaluating more than 1,500 startups annually and “supporting founders whose products tackle critical financial inclusion challenges.”
Over the past three years, Ripple and Rippleworks partnership with MCV has supported investments in “54 early-stage companies, 44% of which have at least one female co-founder, which has resulted in more than $500M in follow-on funding.”
Scott Onder, Chief Investment Officer at Mercy Corps Ventures, underscores the importance of this long-term partnership, noting that Ripple has been a catalytic funder and partner “for Mercy Corps Ventures, helping us drive meaningful impact across our portfolio.”
Onder added that together, Ripple and Mercy Corps Ventures, will equip more entrepreneurs “with the tools and resources to implement web3 technologies that foster financial and climate resilience in underserved markets.”
Ken Weber, Ripple’s Vice President of Sustainability and Social Impact, added that Mercy Corps Ventures has been “a trusted partner for Ripple with an exceptional record of responsibly testing scalable, transformative solutions in emerging markets.”
Weber added that with Unlocking Opportunity they are confident they can maximize the impact of their partnership for entrepreneurs “on the frontlines of financial innovation and aid-delivery.”
Unlocking Opportunity kicks off with MCV’s Crypto for Good Fund, which funds real world use cases for Web3 tech in the Global South with equity-free grants “up to $100,000.”
Use cases focus on DeFi loans, real-world-asset tokenization, savings and payments, and stablecoins in “humanitarian aid delivery.”
Applications to the Crypto for Good fund are currently being accepted.
The XRPL’s low transaction costs and scalability, and upcoming EVM sidechain launch, make it suitable for fintechs “looking to develop affordable, accessible financial solutions.”
Unlocking Opportunity reflects Ripple and MCV’s mission to support entrepreneurs in creating resilient economies.
Ripple remains committed to empowering innovators to build solutions and to making financial services more inclusive and sustainable.
