1. Opportunities for Ripple in South Korea
2. South Korean Investors' Interest in XRP
3. Potential for a Spot XRP ETF

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.

Opportunities for Ripple in South Korea

Speaking to Bloomingbit, Ripple President Monica Long noted strong interest in XRP in South Korea. Long stated that they plan to offer a cryptocurrency custody service in partnership with Korean commercial banks and are ready to launch this initiative as soon as they receive approval from the Korean Financial Services Commission.

South Korean Investors' Interest in XRP

It is known that 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.

Potential for a Spot XRP ETF

Monica Long also pointed out that the court decision determined that XRP was not a security as claimed by the SEC. Long expressed optimism about the possibility of a spot XRP ETF in the future based on the court ruling and foresees that an ETF will eventually be approved.

Ripple is making strategic moves to strengthen its position in international markets, and South Korea appears to be a key milestone in this plan. The company's planned cryptocurrency custody services could make a significant contribution to the country's cryptocurrency market infrastructure.