Amid accelerated efforts to expand its global presence, Ripple Labs has allied with Catalyze Research to boost XRP Ledger (XRPL)’s user base in South Korea.
Leading web3 and blockchain-focused consultancy firm, Catalyze Research, took to Twitter to announce the strategic collaboration on July 26, following Ripple’s official blog announcement on Tuesday, July 25.
This partnership will allow XRPL to penetrate the South Korean crypto market and empower local developers.
Ripple To Boost XRPL Adoption Through Collaborative Developer Efforts In South Korea
The blog post highlighted Catalyze Research’s prowess and reputation as a leading web3 and blockchain consultant. Through this collaboration, Ripple and Catalyze Research will leverage South Korea’s rapidly growing crypto developer community to boost XRPL.
Besides boosting XRPL’s presence in the country, the integration primarily focuses on empowering South Korea-based developers and encouraging them to build on the XRP Ledger.
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The partnership will sponsor XRPL development education tailored to the needs of South Korean software engineers. It will engage the local developer community through workshops, meetups, and hackathons. Also, the team will devise strategies to allow the seamless integration of various decentralized finance (DeFi) and NFT-based dApps on the XRP Ledger.
Ripple and Catalyze Research executives openly welcomed the collaborative idea, expressing optimism about its success. Commenting on the development, Markus Infanger, the Vice President of Ripple’s RippleX Growth, was enthusiastic as he looks forward to the potential achievement expected from the collaboration.
Infanger acknowledged South Korea’s status as a bubbling hub for blockchain technology. He highlighted Ripple and Catalyze’s shared vision to promote growth and adoption in the space, providing an enabling environment that will allow South Korean developers to unlock the full potential of XRPL.
CEO of Catalyze Research, Ben Ko, shared a similar sentiment with Infanger, noting the partnership will accelerate the growth of XRPL in South Korea by fostering innovation and collaboration. Ko wants to nurture a growth-friendly atmosphere in South Korea to place the nation in a global leadership position in blockchain technology.
Ripple Ramps Up Expansion Plans
The collaborative effort between both firms is only one of many similar recent endeavors by the fintech company to promote innovation and development. Ripple’s CEO Brad Garlinghouse revealed that the firm plans to diversify its offerings to advance beyond liquidity provision to other aspects of blockchain technology.
As part of this vision, Ripple partnered with SUPER HOW, a private blockchain tech research lab, to work on the Axiology project.
For context, the Axiology project uses tokenized trading and settlement infrastructure to test and issue cryptocurrency, stablecoins, and central bank digital currencies (CBDCs). The initiative utilizes tokenization to track transaction history, boost regulator confidence, and combat fraud and money laundering.
Featured image from Pixabay and chart from TradingView.com