Bitcoin News
By Julie Binoche
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Regulatory Hurdles Remain. But there's a catch. RLUSD still needs full regulatory approval from South Korean authorities…
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Market Competition Heats Up. The move puts Ripple in direct competition with Tether, which controls roughly 65% of South…
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Ripple just launched RLUSD on Coinone. The move gives South Korean traders direct access to the company's dollar-pegged stablecoin through one of the country's biggest crypto…
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Coinone ranks among South Korea's top three exchanges by trading volume, processing billions in transactions monthly.
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But there's a catch. RLUSD still needs full regulatory approval from South Korean authorities before going live on Coinone's platform.
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South Korea maintains some of the world's strictest crypto regulations, requiring extensive compliance checks for new digital assets.
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Coinone CEO Cha Myung-hoon seemed optimistic about the partnership despite regulatory uncertainty.
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Lee Sang-ho, a crypto analyst at Korea Blockchain Institute, thinks there's room for another major stablecoin in the market.
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South Korean crypto trading volumes hit record highs in early 2024, with daily spot trading often exceeding $15 billion across major exchanges.
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Ripple's Korean expansion builds on previous work in the region. The company partnered with several local banks in 2023 to test cross-border payments using XRP, laying groundwork…
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Coinone's decision aligns with its strategy to diversify crypto offerings beyond Bitcoin and Ethereum.
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Other major Korean exchanges are watching closely. Bithumb and Upbit, the country's two largest platforms, haven't announced plans to list RLUSD yet.
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The regulatory approval process remains the biggest unknown. South Korea's Financial Services Commission typically requires 3-6 months to review new cryptocurrency listings,…
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Trading fees will likely determine RLUSD's market success once it launches. Coinone currently charges 0.05% for stablecoin trades, competitive with other major exchanges.
The Currency Analytics
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