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- Ripple’s VP Emi Yoshikawa highlights significant XRPL adoption in South Korea, driven by business interest in digital assets.
- Infinite Block, Korea’s licensed digital asset custody provider, expands XRPL services, enhancing regulatory compliance and enterprise use.
As predicted in the CNF report, XRP Price Can Profit Ripple from Launches APAC Fund Amid SEC Legal Challenges, the aims have been achieved to advance innovation within the XRPL ledger in Japan by forging corporate partnerships, offering developer grants, making startup investments, and fostering community growth.
Furthermore, through her personal X account, Ripple’s VP of Corporate Strategy & Operations, Emi Yoshikawa, shared the excitement about the significant surge of XRP Ledger (XRPL) in South Korea, driven by more businesses entering the digital asset space.
Great to see continued momentum of the XRP Ledger in Korea 🇰🇷!
With more enterprises entering the digital asset space, it's critical for them to have access to reliable enterprise-grade digital asset platforms. Excited to see Infinite Block, the only licensed digital asset… https://t.co/EPUhWCHe41— Emi Yoshikawa {X} (@emy_wng) June 24, 2024
Korea’s sole licensed digital asset custody provider has recently become a validator in the XRPL blockchain and launched an XRP Ledger custody service, with plans to expand its XRPL-based services and provide regulatory compliance consulting.
Global Trend of XRPL Adoption
The acknowledgment of Yoshikawa also reflects the growing adoption of XRPL in Korea, a broader global trend of businesses seeking reliable, enterprise-grade digital asset platforms, with Infinite Block leading the way in Korea. This update was earlier shared by Catalyze Research in a tweet, stating Gutae Jung, CEO of InfiniteBlock, said:
After starting to run the operation of an XRPL validator last month, we quickly launched an XRPL-specific custody service through our own development. XRPL is an enterprise-grade blockchain with over a decade of track record. By leveraging Infinite Block’s custody service, our enterprise customers can interact with XRPL through a highly reliable digital asset platform that is compliant with Korea’s special regulatory environment.
Current XRP Market Trends
However, as per today’s Coin Market Cap data, Ripple (XRP) trades at $0.4696 with a decrease of 1.40% in the past day and 5.14% in the past week. This global pattern of XRP price, as seen in the price chart below, suggests a need for further outreach of Ripple’s movements on a global scale to support increased market trades of XRP.
