- South Korea’s strict blockchain regulations support Infinite Block’s decision, ensuring a safe environment for blockchain projects.
- Lawyer Bill Morgan suggests a coordinated effort between Infinite Block and SBI Holdings to strengthen XRPL functionality.
The XRP Ledger (XRPL) has seen increased institutional involvement with South Korea’s Infinite Block joining as a validator. This move comes after Japan’s SBI Holdings also became a validator. These decisions indicate a trend of more institutions participating in XRPL validation.
[Korean Virtual Asset Service Provider Infinite Block Joins as XRP Ledger Validator]
Infinite Block, a Korean virtual asset Service Provider led by CEO Jung Gu-tae, announced on the 13th that it is participating as a validator in the XRP Ledger (XRPL). This participation is… pic.twitter.com/lHTGlFtZSp
— Catalyze Research (@Catalyze_RS) May 13, 2024
Infinite Block’s choice to become a validator highlights the importance of regulatory compliance and secure investment environments. South Korea’s strict blockchain regulations, including the Travel Rule and anti-money laundering measures, support this move. Infinite Block’s CEO, Jung Gu-tae, emphasized the company’s commitment to following these regulations and protecting users.
CEO Jung Gu-tae of Infinite Block stated:
“As a fully regulated custodial business operator, we will provide blockchain regulatory support infrastructure suitable for the institutional characteristics of the Korean virtual asset industry. We will contribute not only to user protection but also to enhancing the reliability of XRPL based on thorough regulatory compliance, both domestically and internationally.”
Bill Morgan, a lawyer who supports XRP, noted the strategic timing of Infinite Block’s entry, which followed closely after SBI Holdings. This sequence suggests a coordinated effort to strengthen the XRPL network. Morgan’s observation points to a possible alignment between these two institutions to improve the ledger’s functionality and security.
Can’t be a coincidence so soon after the SBI entity became an XRPL validator https://t.co/5FqPlvclji
— bill morgan (@Belisarius2020) May 13, 2024
SBI VC Trade, part of SBI Holdings, has also become a validator. This move supports the XRPL and represents the interests of XRP holders in Japan. By registering as a validator within the Unique Node List (UNL), SBI VC Trade aims to influence decisions about new features and updates on the network.
The involvement of Infinite Block and SBI Holdings as validators is expected to improve the reliability and governance of the XRPL.
Their participation enhances the network’s credibility and encourages more institutional investors to join. This trend is crucial for the growth and development of the XRPL ecosystem.
Infinite Block’s entry into the validator pool is important for South Korea’s blockchain sector. The country’s regulatory compliance efforts ensure a safe and reliable environment for blockchain projects. This move by Infinite Block fosters greater trust and participation in the XRPL network.
Overall, the addition of Infinite Block and SBI VC Trade as validators represents a key development for the XRPL. Their involvement highlights the growing institutional interest in blockchain technology and the importance of regulatory compliance in creating a secure and reliable ecosystem.
As these institutions contribute to the network, the XRPL is expected to see improvements in its functionality and security, benefiting all participants in the blockchain community.
