One Out of Ten Koreans Own Ripple

Did you know that one out of ten Koreans owns Ripple (XRP), the world’s sixth-largest cryptocurrency? Ripple is accelerating its expansion in Korea based on the interest of Koreans.

Josh Kim, a partner of Ripple, revealed in an interview with the Ripple-related community “Crypto Eri” on the 26th that “10% of the Korean population own Ripple.”

He added that “Korea holds at least 15% of Ripple’s circulating supply and accounts for about 50% of Ripple’s trading volume.”

Josh Kim explained that Ripple will accelerate the adoption of the XRP Ledger (XRPL) based on this interest in Korea. Ripple is interested in decentralized finance (Defi) and gaming.

Josh Kim said, “A Defi project based on XRPL has already started,” further explaining, “since Korea has the fourth largest gaming market in the world, game developers will be attracted to the XRPL ecosystem.”

He mentioned, “We provide scalability through sidechains like the Root Network in the gaming field.” Although he did not specifically mention the game’s name, he claimed that “the Root Network will be installed in major game IPs in Korea by mid-2024.”

Meanwhile, XRPL is a decentralized open-source blockchain platform designed by Ripple Labs, which has advantages such as fast speed, high scalability, low fees, and support for various currencies. Therefore, XRPL shows its strength in cross-border transactions.