Reports have surfaced in the XRP community that Ripple is actively involved in developing the blockchain ecosystem in South Korea. The allegations above emerged amidst the proliferation of documents. These documents establish a link between Ripple and a paper focused on regional blockchain development.
Edward Farina, an ardent supporter of XRP, initially made the above allegations. Edward is also the organizer of the respected crypto trading collective Alpha Lions Academy. Farina’s observations were prompted by a fragment of a written document that referred to a joint venture between Ripple, GBC Korea, and Oxford Metrica.
Ripple is presently engaged in the development of a cutting-edge blockchain ecosystem within the Korean region.
— EDO FARINA
The above manuscript comprehensively describes GBC Korea, a blockchain venture based in the Republic of Korea. Much attention is given to it, as is Ripple’s function in accelerating transactions through RippleNet. The text reveals a proposed paradigm showing the potential of GBC Korea’s GMAP platform in facilitating retail investor participation in mergers and acquisitions (M&A).
Conflicting Reactions to Important News
The recent disclosure sparked varying reactions from the crypto community. Some enthusiasts expressed euphoria over the breakthrough. Some, on the other hand, were skeptical about the announcement. And that was to be expected.
According to WrathofKahneman, a respected expert in the XRP community, the excerpt above is taken from a manuscript about blockchain policy in South Korea. It was formulated by Ripple, GBC Korea, and Oxford Metrica in March 2022.
I am uncertain about the assertion being made. Last year, Ripple authored a policy paper in collaboration with GBC. The latter mentioned leveraging an M&A platform based on the former’s technology. It is indeed intriguing that they have shown interest in South Korea’s policy, although I would draw a parallel with their comparable involvement in Brazil thus far: https://t.co/2YEuKQMOh4
— WrathofKahneman (@WKahneman) May 15, 2023
This document was brought to Crypto Basic’s attention last year. It highlighted the collaboration between Ripple and GBC Korea. According to WrathofKahneman, the extent to which GBC Korea intends to expand its cooperation with Ripple to use XRP or RippleNet in its GMAP infrastructure remains to be determined.
GBC Korea has launched the Global M&A Platform (GMAP). It is a new blockchain-based initiative. It allows retail investors to participate in mergers and acquisitions (M&A). GBC Korea is proud to be the first platform to enable individuals to participate in mergers and acquisitions.
No Official Data From Ripple
Given the available data, whether Ripple intends to expand its presence in South Korea remains to be determined. Or it plans to offer blockchain-based payment options to GBC Korea. Neither of the two organizations has made any statement on the matter. Rathof-Kanneman stressed the importance of GBC’s collaboration with Ripple.
After the previous collaboration with GBC Korea, speculation about a potential strengthening of Ripple’s ventures in Korea has existed. These speculations remain unfounded, as the company has not made an official statement regarding its success in penetrating the South Korean market.