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Institutional Interest Boosts XRP’s Resurgence in South Korea and Japan
Ripple’s flagship token, XRP, is experiencing a sudden surge in institutional interest in both South Korea and Japan. This renewed traction has been fueled by the growing recognition of XRP’s role in global payments and its potential to facilitate faster cross-border transactions.
According to a recent announcement from BDACS, a prominent digital asset custody provider, they have added support for XRP, enabling institutional clients to securely interact with the token on leading exchanges such as Upbit, Coinone, and Korbit. This move underscores the growing demand among Korean investors for secure XRP storage solutions that align with regulatory expectations.
Notably, SBI Holdings is also preparing to launch exchange-traded funds (ETFs) for both Bitcoin and XRP in Japan. While this proposal awaits regulatory approval, it marks a significant milestone for the adoption of altcoin ETFs in Asia. The launch of these funds would provide Japanese investors with regulated access to both assets, fostering increased liquidity and institutional participation.
The development is particularly noteworthy given SBI’s long-standing partnership with Ripple, emphasizing its commitment to XRP’s utility in international transactions. As a result, the planned ETF may serve as a precursor for broader altcoin ETF adoption across the region.
XRP Ledger, which powers these developments, is an open-source blockchain-based technology that enables secure global payments and settlement solutions.
Source: cryptoslate.com
