Following a big victory in the XRP lawsuit, Ripple firm is ready to expand its empire in South Korea.
Ripple is a San Francisco-based fintech firm. This company uses the XRP blockchain network to process cross-border payments for small & big businesses. Recently the firm secured victory in the XRP lawsuit against the United States Securities Exchange Commission (SEC).
Following the victory in the XRP lawsuit, XRP coin trade volume was very high across the South Korean crypto exchanges, showing the dominance of XRP coin in the Korean crypto market.
Recently Ripple officially announced that it established a partnership with a South Korean firm Catalyze Research. This seol-based firm is known for its study & research in the blockchain & Web3 sector.
Under this partnership, Ripple & Catalyze Research will host workshops, meetups, and hackathons, to educate the crypto participants about the XRP Ledger ecosystem and also to guide the blockchain & Web3 developers to integrate decentralized applications (dApps) on the XRPL platform.
A Ripple spokesperson confirmed that the Ripple team has been working with this Korean blockchain for one year and found that they have better expertise in Web3 innovations.
Ripple vice president Markus Infanger said that South Korea is a very good region for the crypto industry, as the majority of the talents for the crypto sector came from this country.
XRP price action
The current trade price of XRP coin is $0.71 & this trade price is 9.5% down over the last 7 days of trade price.
Between January to May, XRP was the top-traded coin in South Korea. In this time frame, people traded nearly $24.5 billion XRP coins, while the trade volume for ETH was only $9 billion.