Ripple, which has been struggling to grow outside the US for a long time due to legal issues with the SEC, aims to offer crypto custody services with local banks in South Korea.
Speaking to Bloomingbit, Ripple President Monica Long noted strong interest in XRP in South Korea.
South Korea Is An Opportunity For Ripple!
Stating that he sees South Korean investors' interest in XRP as an opportunity for Ripple, Long said that they plan to offer a cryptocurrency custody service in partnership with Korean commercial banks.
Monica Long stated that Ripple is ready to launch this initiative as soon as it receives approval from the Korean Financial Services Commission.
Finally, Long pointed out that the court decision determined that XRP was not a security as claimed by the SEC, and commented on the potential of a spot XRP ETF.
Long stated that he is optimistic about the possibility of a spot XRP ETF in the future based on the court ruling and that an ETF will eventually be approved.
XRP Attracts Great Attention in South Korea!
As is known, South Korean investors are very interested in XRP. On the country's largest cryptocurrency exchange, Upbit, XRP trading volume occasionally increases significantly, and XRP surpasses Bitcoin (BTC) and Ethereum (ETH) in terms of trading volume.
*This is not investment advice.