Ripple is extending its XRPL enterprise solutions to Japan through a strategic partnership with HashKey DX, a specialized consulting company based in Tokyo, according to an announcement made on April 30.

In this collaboration, HashKey DX will join forces with Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, to develop and deploy supply chain finance solutions tailored specifically for the Japanese market.

With HashKey Group's expertise and successful track record in implementing blockchain-powered supply chain finance solutions in mainland China since 2019, the partnership aims to replicate this success in Japan. Their existing solution has onboarded over 4,000 registered companies, including 23 banks and 4,300 suppliers, facilitating trade transactions exceeding $7 billion and financing transactions nearing $3 billion.

Andy Dan from HashKey DX expressed confidence in the XRPL as the ideal blockchain infrastructure for building their proven supply chain finance solution, citing its enterprise track record and superior performance metrics such as rapid settlement speeds, low costs, and scalability.

Meanwhile, Ripple continues to navigate its legal battle with the US Securities and Exchange Commission (SEC). The latest developments involve the potential testimony of SEC accountant Andrea Fox and its implications for the fines imposed on Ripple.

Ripple disputed Fox's testimony, arguing against her designation as an expert witness by the SEC to introduce new information. The SEC countered, stating that Fox serves as a summary witness, presenting evidence efficiently to Judge Torres based on basic arithmetic applied to Ripple's financial records.

Initially seeking penalties of around $2 billion against Ripple, the SEC faced opposition from the company, which proposed a more modest $10 million fine, disputing the severity of the regulator's requested penalties.