• Ripple and Catalyze Research have developed an XRPL education program for developers.
• South Korea has witnessed remarkable XRP trading volumes.
• Ripple’s victorious legal battle with the SEC has opened new avenues for the company to expand its reach and services to untapped markets, and South Korea seems to be its latest strategic move.
Ripple’s Expansion into South Korea
Ripple is aiming to expand its XRP Ledger (XRPL) into the South Korean market by teaming up with Catalyze Research, a Seoul-based firm that specializes in blockchain analysis. The two companies are developing an XRPL education program tailored for developers, as well as organizing workshops, meetups, and hackathons in order to foster community engagement. Vice President Markus Infanger recognizes South Korea as a “dynamic market” with a highly skilled developer community.
Impressive Trading Volumes in South Korea
South Korea has witnessed impressive XRP trading volumes compared to other nations; from January to May 2021, XRP emerged as the most actively traded cryptocurrency on South Korean crypto exchanges, closely trailing only behind Bitcoin (BTC). During the same period, XRP’s trading volumes reached $24.5 billion, nearly triple the trading volumes of Ether (ETH), which stood at around $9 billion.
SEC Legal Battle Paves Way for Expansion
Ripple’s successful legal battle against the SEC has opened new avenues for the company to expand its reach and services to untapped markets – including South Korea – making it their latest strategic move. With this expansion comes enhanced awareness and utilization of its XRP Ledger among developers within the country’s vibrant blockchain ecosystem.
Catalyze Research Partnership
Founded by three innovative engineers in June 2012, Ripple introduced XRPL as a peer-to-peer blockchain which has since grown significantly; currently there are 116 active validators on board as of July 27th 2021. To expedite adoption of XPRL and facilitate integration with decentralized applications (dApps), Ripple is collaborating with Catalyze Research who have earned themselves a reputation as a “scrappy” firm due to their extensive experience in Web3 ecosystems such as Avalanche and Tezos. This partnership will help boost developer participation and innovation on XRPL within this burgeoning tech hub regionally.
Conclusion
South Korea offers immense potential when it comes to blockchain technology usage; hence why Ripple is eager to invest further resources into accelerating their presence here through inspiring talent development activities via educative programs tailored for developers within this space alongside other initiatives such as workshops, meetups & hackathons etc.. It appears that Ripple’s expanded presence in this thriving economy will benefit both parties involved greatly!