Ripple CEO brad Garlinghouse (Brad Garlinghouse) announced at a press conference in Seoul that the company intends to invest in Korean startups. It is reported by The Korea Times.
Interest Ripple due to higher activity and growing volumes of cryptocurrency market in the country. According to Garlinghouse, the company also plans to invest in more advanced IT companies, to increase the number of buyers of XRP. However, he did not mention concrete names of potential partners.
In addition, the head Ripple held a series of meetings with existing clients, as well as representatives of Supervisory authorities of South Korea. According to The Korea Times, the Ripple, the working group visited the country for other reasons, but Arlinghaus refused to comment on the matter.
The need of the influx of new companies into the sphere of virtual assets Arlinghaus explains the practical benefits for users: crypto-currencies solve the real banking and transactional problems, and in the future digital assets will continue to improve its payment processes, particularly cross-border payments.
Today it is known that at least two South Korean Bank Woori and Shinhan, — testing the technology of distributed registry Ripple (DLT) for international Bank transfers.
Recall that the South Korean authorities began to encourage work with digital currencies only at the end of February. Previously, several exchanges had to close trades due to new regulatory measures taken by the government of the country.