9. November 2024

Ripple’s SEC Victory Paves Way for XRP Expansion in South Korea

• Ripple and Catalyze Research have developed an XRPL education program for developers to accelerate the adoption of XRPL.
• South Korea has witnessed remarkable XRP trading volumes, making it a strategic move by Ripple to expand its reach and services in the country.
• The partnership entails organizing workshops, meetups, and hackathons to foster engagement within the community.

Ripple’s Expansion into South Korea

Ripple is looking to adopt its XRP Ledger (XRPL) in South Korea, a country renowned for blockchain innovation. To facilitate its integration with decentralized applications (dApps), Ripple has teamed up with Seoul-based firm Catalyze Research to develop an XRPL education program tailored for developers.

High Trading Volumes in South Korea

South Korea has established itself as a vibrant blockchain and Web3 technology hub, showcasing impressive expertise and innovation. This makes it an ideal partner to boost developer participation and innovation on XRPL. From January to May, 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 a staggering $24.5 billion.

Catalyze Research Partnership

Founded by three innovative engineers in June 2012, Ripple introduced XRPL as a peer-to-peer blockchain which has since grown to have 116 active validators as of July 27th. Teaming up with Catalyze Research will help increase awareness and utilization of its platform in the country through workshops, meetups, and hackathons.

Victory Paves Way for Expansion

Ripple’s legal battle victory with the SEC has opened new avenues for them to expand their reach and services into untapped markets such as South Korea.

< h2 >Benefits of Expansion
< p >With this expansion comes increased exposure for developers interested in learning more about the platform plus opportunities through hackathons that may result in innovative implementations of the technology. It is also expected that this could lead to further growth in trading volumes seen from previous months.