Categories: Crypto

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.

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.

https://twitter.com/Ripple/status/2039280292381200460?ref_src=twsrc%5Etfw” target=”_blank

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).