Ripple Executive Shares Leading Country of XRP Trading is Malta, Not South Korea

Malta Overcomes South Korea as XRP’s Leading Trader

South Korea has built a stellar reputation for its involvement in cryptocurrency and for some time, it was also known as the leading trading of XRP.

Cory Johnson, Ripple’s Chef Marketing Strategist, recently stated that

“I’m going to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing.” Further, Johnson also tweeted about the latest XRP news, stating “We touch on this in our @Ripple quarterly markets report, which shows that Malta — not South Korea – is now the leading trader of #XRP.

The tweet was issued in response to an article highlighting four countries and territories, such as Malta, Bermuda, Gibraltar, and Liechtenstein, recognized for their cryptocurrency-friendly qualities. The article, written by Nathaniel Popper, identifies that the officials in these countries passed crypto-friendly laws and have such legislation in their pipeline to ensure a welcoming attitude toward cryptocurrencies.

Johnson’s response was derived from his quarterly marketing report for 2018’s second quarter. The report indicates that Ripple sold $73.53 billion in XRP during the quarter, which accounted for 0.125% global XRP volume. The figure is impressive and it may show that Ripple is not looking to flood the market with XRP. However, this contradicts Ripple’s release of 3 billion XRP from escrow in quarter 2.

The report also shows a decline in Bitcoin during quarter 2, of 8.2%. This is close to XRP’s own decline of 9%. The good news is that these figures are quite stable, making them a suitable base pair in exchanges.

Finally, the report also discussed the Coil Project, which is run by Stefan Thomas. The project is looking to transition from Wall Street to the crypto space and it features several top companies, including Fidelia, Goldman Sachs, and JP Morgan.

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