Ripple Labs is intensifying its efforts in Japan by collaborating with major Japanese financial institutions to enhance the adoption of the XRP Ledger (XRPL). The newly launched Japan Financial Infrastructure Innovation Program aims to support startups developing digital financial solutions on the XRPL. Applications opened on December 19, offering a $10,000 grant per startup, focusing on stablecoins, asset tokenization, and credit infrastructure. The initiative, backed by Mizuho Bank, SMBC Nikko Securities, and Securitize Japan, seeks to leverage Japan's regulatory environment and talent pool to foster blockchain innovation. Despite this, the XRPL faces challenges, with its Total Value Locked (TVL) dropping from $120 million in July to $62 million, amid a broader crypto market downturn. Ripple's strategy aims to create a resilient ecosystem within Japan's banking sector, countering market volatility.