Important Announcement for Ripple (XRP) Traders in South Korea


Ripple continues with its efforts to further the usage of RLUSD as preferred stablecoin for South Korean traders.

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Stablecoins have emerged as one of crypto’s clearest and most prominent use cases, with their total market cap exceeding $320 billion at the time of this writing. That’s more than 13% of the entire industry’s capitalization.

Attempting to take full advantage of the narrative, Ripple has been pushing its RLUSD stablecoin for a while, and today, they dropped another announcement.

According to the company’s X account, RLUSD is now live on one of the largest regulated exchanges in South Korea – Coinone.

Korean traders are now able to access the asset directly in KRW.

Coinone is amongst the leading crypto exchanges in the country, boasting a trading volume of around $300 million in the past 24 hours.

This is the last in a series of moves aimed at positioning RLUSD as a preferred crypto on-ramp internationally. As CryptoPotato reported earlier in March, Ripple is testing whether RLUSD can replace manual payment processes in Singapore,  using the city-state’s sandbox environment called BLOOM. The latter is under the direct management of the Monethary Authority of Singapoe (the country’s de-facto central bank).

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Source: https://cryptopotato.com/important-announcement-for-ripple-xrp-traders-in-south-korea/