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XRP craze in South Korea reminds traders of LUNA meltdown XRP Army, the social media fan club for all things Ripple, is alive and well in South Korea. Seoul-based crypto exchange Upbit reported that XRP traders on its platform are more active than traders of any other crypto asset this week — trading even more than bitcoin (BTC) and ether (ETH). With over $6 billion in XRP traded, Ripple’s blockchain asset was responsible for over one-third of the crypto exchange’s $18 billion total on Monday. That South Korea — a relatively small country — is leading a rally in a major cryptocurrency is unremarkable for veterans who have been around since 2017. Back then, South Korea attracted international crypto arbitrageurs to its ‘kimchi premium,’ the phenomenon that for many months, saw BTC traded at a premium in the country versus exchanges in other regions. On Monday, and for a few hours over the weekend, XRP denominated in South Korean won (KRW)...

Blockchains need to become interoperable in order for the industry to truly flourish and several innovations will accelerate the ecosystem towards it, say executives. The future of blockchain will be an interoperable one — with the death of “chain tribalism,” the proliferation of “hundreds of chains” along with an end to cross-chain bridge hacks, according to executives at Korea Blockchain Week. Backing up the claims are several products slated for release before the end of the year that could see blockchain interoperability efforts move away from current solutions which execs say don’t make sense and are a “honeypot” for hackers. Vance Spencer, the co-founder of the crypto-focused venture firm Framework Ventures told Cointelegraph at KBW that he thinks with many solutions on the horizon including Chainlink’s Cross-Chain Interoperability Protocol (CCIP) — it soon won’t matter what blockchain a project uses. He said most startups begin on layer-2 solutions such as Optimism or Arbitrum ...

NongHyup Bank revealed that the leading banks in South Korea, including Industrial Bank of Korea, Shinhan Bank, and Woori Bank, have joined its consortium for security token offerings. The consortium has also witnessed the participation of other financial technology companies such as Funble, Trackchain (a subsidiary of Aton), and Artipio (a fractional art investment subsidiary of Yes24), bringing the total number of participants to 18 firms. STO market reaches $26 billion NongHyup Bank, along with Suhyup Bank, Jeonbuk Bank, and six fractional investment firms, established a consortium in April to develop a security token ecosystem, as reported by The Korea Herald. With the STO market predicted to reach 34 trillion won ($26.6 billion) in size next year, banking groups are increasingly showing interest, particularly due to the Financial Services Commission’s plans to ease regulations later this year.  You might also like: Celsius users will be allowed to swap altcoins f...