Asheesh Birla, the CEO of $XRP treasury firm Evernorth, not too long ago shared observations that painting South Korea as a mature digital asset market, notably for $XRP.
Reflecting on final week’s Bitcoin Seoul convention, Birla revealed that $XRP surpassed Bitcoin as one of the crucial actively traded cryptocurrencies within the nation.
Birla emphasised $XRP’s robust presence within the Korean market, noting that the $XRP/KRW buying and selling pair persistently ranks among the many most lively markets on Upbit, the nation’s largest crypto trade.
In line with Birla, $XRP periodically generates extra buying and selling quantity than Bitcoin and Ethereum throughout intense market exercise. Consequently, South Korea has cemented its fame as one of many deepest and most liquid $XRP markets on the planet.
$XRP Outperforms Bitcoin and Ethereum in Upbit’s Buying and selling Quantity
Notably, market knowledge helps Birla’s claims. On the time of writing, $XRP/KRW ranks because the third most actively traded market on Upbit, recording roughly $89.64 million in buying and selling quantity.
By comparability, BTC/KRW and ETH/KRW occupy the fourth and seventh positions, respectively, with volumes of $72.48 million and $43.02 million.
Korean Monetary Giants Are Shifting Into Crypto Infrastructure
Past $XRP’s recognition, Birla disclosed that an much more vital transformation is unfolding behind the scenes. In line with him, South Korea’s largest monetary establishments not view crypto as an experimental trade. As a substitute, they’re actively investing within the infrastructure that helps the digital asset ecosystem.
Birla pointed to Mirae Asset and Hana Monetary Group as notable examples. He said that Hana is pursuing investments associated to Upbit, whereas Mirae Asset has reportedly acquired a big stake in Korbit.
He defined that the developments counsel Korea’s largest monetary establishments are shopping for their means into exchanges, moderately than constructing round them.
Tokenization Dominated Discussions at Bitcoin Seoul
Though Bitcoin Seoul was formally a Bitcoin-focused occasion, Birla famous that discussions on tokenization and real-world belongings (RWAs) dominated the convention flooring.
Individuals explored a broad vary of matters, together with tokenized authorities securities, tokenized mental property, and different types of real-world asset digitization. Birla particularly highlighted tokenized treasury choices from Ondo Finance and tokenized music initiatives from SBI Digital Markets.
In line with Birla, the expansion of tokenized belongings is shifting trade priorities. Since these belongings require excessive throughput, low transaction prices, and quick settlement finality, establishments are evaluating blockchain networks primarily based on their infrastructure capabilities moderately than model recognition or group loyalty.
XRPL Continues to Achieve Floor within the RWA Market
Notably, the $XRP Ledger has emerged as a big participant within the rising RWA sector.
As beforehand reported, the market capitalization of real-world belongings on XRPL surged 124% quarter-over-quarter to $2.25 billion in Q1 2026. Since then, that determine has climbed additional to roughly $3.7 billion, whereas the variety of tokenized belongings on the community has reached 293, in line with knowledge from rwa.xyz.
In the meantime, Evernorth not too long ago highlighted XRPL’s fast progress within the sector. In line with the agency, the $XRP Ledger reached $400 million in RWA worth inside simply 15 months, outperforming Ethereum, which took 36 months to realize the identical milestone.
