- Infinite Block has revealed its support for the XRP Ledger (XRPL), marking a significant move in the South Korean crypto landscape.
- The company plans to launch escrow, transfer, and storage services for XRPL users in Korea.
- Infinite Block will also provide consultation services to developers within the XRP ecosystem.
Infinite Block, the only VASP-licensed crypto firm in South Korea, is set to integrate XRP Ledger support, opening new market possibilities.
Integration of XRPL into the South Korean Market
Infinite Block, a major player in South Korea’s cryptocurrency scene, has added support for the XRP Ledger (XRPL), the widely-used blockchain created by Ripple. This new integration allows XRPL to tap into the South Korean market, broadening its user base significantly.
Expansion of Custody Services
According to a recent post on X (formerly Twitter), Infinite Block will enhance its custody services to include XRPL-based solutions. The company aims to foster blockchain service growth while adhering to South Korean regulations. Infinite Block ensures compliance for both domestic ventures and international services entering the South Korean market. This includes new offerings like XRPL Custody, cross-border transactions, and specific grants in the region.
Regulatory Compliance and Consultation
Gutae Jung, CEO of Infinite Block, pointed out that the firm recently became an XRPL validator and rolled out an XRPL-specific custody service. Jung emphasized that their service allows users to engage with XRPL through a secure and regulation-compliant digital asset platform tailored to Korea’s unique regulatory needs. Additionally, Infinite Block plans to use its in-depth understanding of South Korean regulations to provide consultation services, helping XRPL developers optimize their projects for compliance and success in the region.
Industry Reactions and Future Prospects
Emi Yoshikawa, VP of Strategic Initiatives at Ripple, has praised this development, noting the growing momentum of the XRP Ledger in South Korea. She asserted that Infinite Block’s expertise could substantially benefit the South Korean crypto ecosystem, promoting a transparent and equitable operating environment for escrow, transfer, and storage services. Yoshikawa’s remarks reflect a broader optimism about the potential for growth and innovation driven by this new collaboration.
Conclusion
The support for the XRP Ledger by Infinite Block signifies an important step for both entities. As Infinite Block extends its XRPL services and compliance consultation in South Korea, the future looks promising for blockchain technology in the region. Moving forward, users and developers can anticipate a more transparent, reliable, and regulation-compliant ecosystem, attributable to this strategic partnership.
