Ripple-SEC proceedings in progress do not affect the adoption of Ripple’s remittance platform
According to Rahul Advani, Head of Asia Pacific Policy at Ripple, the company plans to enter the Korean market in earnest this year. “Ripple is particularly interested in the Korean market,” said top executives at the “Future of Korean Blockchain and Digital Assets” conference hosted by Ripple, GBC Korea and Oxford Metrica on April 27. Stated.
“”#RIPPLE We are planning to enter the Korean market in earnest this year. -Rahul Advani, Head of APAC Policy at Today’s Conference (Cryptocurrency Liquidity Hub has not been launched yet) co / ARby8inVue
— WrathofKahneman (@WKahneman) April 27, 2022
He also said the ongoing Ripple-SEC proceedings would not affect the adoption of Ripple’s remittance platform, especially On-Demand Liquidity (ODL). Talking about the company’s intended move, he says, however, he has no plans to deploy Ripple’s liquidity hub in South Korea.
Ripple is working with UK-based advisory firm Oxford Metrica and Seoul-based blockchain-based M & A platform GBC Korea to prepare digital assets in South Korea as part of its readiness to enter the Korean market. And cryptographic policy framework.
The paper entitled “Policy Framework for Korean Blockchain and Digital Assets” (with Korean translation) is a way to further develop the blockchain landscape by enacting a smart regulatory framework and encouraging finance. Is recommended to Korean policy makers and regulators. Institutions from all participating regions.
Ripple continues to expand throughout the Asia Pacific region, with South Korea as its next priority, as it leads the digital banking sector and emerges as a global leader in digital payment solutions. South Korea, in particular, has a long history of early adoption of new technologies and has embraced new innovations such as blockchain and digital assets.
South Korea is also a thriving sector with a total market value of digital assets of $ 45.9 billion. BTC (13.6%), ETH (12.4%) and XRP (10.2%) are the top three digital assets traded on Korean exchanges, with a total daily trading value of $ 9.4 billion.