Infinite Block, a Korean virtual asset service provider, has joined the XRP Ledger as a validator.
Korea’s Commitment to Blockchain
Infinite Block, led by CEO Jung Gu-tae, aims to promote the stable growth of the XRP Ledger within Korea’s strict regulatory framework. The company is known for its compliance with Korea’s virtual asset regulations.
XRP Ledger’s Global Presence
The XRP Ledger, an open-source protocol, has processed over 2.5 billion transactions since 2012. It is supported by major players like Ripple, the XRPL Foundation, and XRPL Labs. XRP, the ledger’s native token, ranks seventh globally in market capitalization.
Infinite Block’s Role
As a validator, Infinite Block will contribute to the stability and governance of the XRP Ledger. It will also expand the ecosystem and provide services to businesses while adhering to domestic and international compliance standards.
Industry Reaction
CEO Jung Gu-tae emphasized the strategic importance of this move, highlighting the company’s commitment to providing regulatory support for the Korean virtual asset industry. Ripple’s Vice President of Strategic Initiatives, Emi Yoshikawa, welcomed the development.
Asian Institutional Support
The announcement comes amidst other institutional engagements in the XRP Ledger ecosystem. Lawyer Bill Morgan speculated that the timing may be related to SBI Holdings becoming a validator, suggesting a coordinated expansion of institutional support in Asia.
