Ripple Vice President: XRP Ledger performs well in South Korea
Recently, Ripple’s XRP Ledger (XRPL) has gained significant momentum in the Korean market, attracting widespread market attention. Emi Yoshikawa, vice president of corporate strategy and operations at Ripple, said that as more and more companies enter the digital asset industry, it has become crucial to find reliable enterprise-level platforms to support their businesses. She specifically highlighted the recent development of Infinite Block, South Korea’s only licensed digital asset custody provider, becoming an XRP Ledger blockchain validator.
Infinite Block announced that it will further expand its XRP Ledger-based custody service and expand its blockchain services by complying with domestic regulations. The company also plans to provide compliance consulting services to key XRP Ledger initiatives and ecosystem builders. Yoshikawa said: "It is great to see the continued momentum of XRP Ledger in South Korea. As more companies enter the digital asset industry, they need access to a reliable enterprise-level digital asset platform. It is great to see Infinite Block as the only one in South Korea to obtain A licensed digital asset custody provider creates more opportunities for XRP Ledger users.”
Source: X Ripple Vice President Emi Yoshikawa expressed happiness with the development of XRPL in South Korea
DFSA approves and allows $XRP to be used in Dubai, expanding digital asset services
In addition to developments in South Korea, Ripple also recently completed an important milestone when its digital asset $XRP received approval from the Dubai Financial Services Authority (DFSA) for use in the Dubai International Financial Center (DIFC). This innovation represents important growth for the DIFC digital asset ecosystem, enabling licensed virtual asset companies to include XRP within their services.
The DFSA’s authorization of XRP is significant as it is the first external virtual asset within the DIFC structure to receive regulatory approval. Previously, only Bitcoin, Ethereum and Litecoin ($LTC) were approved. This recognition provides regulatory support and legal clarity to $XRP, giving it legal status in one of the most important financial centers in the Middle East.
The United Arab Emirates (UAE) has become a pioneer in virtual asset regulation. The DFSA’s broad structure guarantees investor protection, promotes innovation, and assists the growth of Dubai’s fintech and cryptocurrency industries. The establishment of the Virtual Assets Regulatory Authority (VARA) demonstrates Dubai’s commitment to promoting technological advancement in financial services while maintaining high-risk assurance.
Image source: X $XRP has been approved by Dubai Monetary Authority VARA for global remittances directly from Dubai
Ripple is accepted by more and more countries and companies
Additionally, Ripple President Monica Long discusses the current and future of Ripple, cryptocurrency regulation, and blockchain technology in an exclusive interview with The Block’s Project Director Frank Chaparro. Long mentioned that since Ripple obtained a favorable court ruling in its case with the SEC, the company’s operations in the United States have received further legal clarity, which has allowed Ripple to continue to expand functional operations in the United States.
Long also emphasized that Ripple’s focus has shifted from just serving cross-border payments to becoming a comprehensive enterprise blockchain infrastructure provider. They have built the infrastructure to support the connection between blockchain and traditional finance and are able to provide services in more than 80 markets around the world. Ripple’s acquisition of Medico, now called Ripple Custody, strengthens its ability to provide custody services that are critical to its payments customers and large banks.
Ripple President Says Stablecoins and $XRP Are Complementary and Additive
When talking about the role of stablecoins, Long explained that stablecoins and $XRP are complementary and serve different purposes in their ecosystems. $XRP serves as a bridge asset for cross-currency or cross-token settlement, while stablecoins are used for transactions that require stability and cost-effectiveness, such as USD to Euro flows. Ripple’s stablecoin will first target its existing payment customers and banks, leveraging its established relationships and infrastructure.
Long also discussed the growing interest in tokenizing real-world assets, such as securities and money market funds. Ripple's custody products support these tokenization efforts, enabling customers to securely and efficiently tokenize a variety of assets. She added that the growing interest from large institutions in tokenizing assets shows the widespread acceptance of blockchain technology in traditional finance.
Overall, Ripple’s expanded capabilities and innovations around the world are driving widespread adoption of digital assets. As more businesses and countries adopt crypto payments, Ripple's role will become increasingly important, and the complementary roles of its stablecoin and $XRP will play a key role in the future world of digital finance.
80% of Japanese banks are customers! Ripple continues to expand in various countries, is the era of global cross-border payments approaching?
