South Korean digital asset service firm Infinite Block joined the XRP Ledger as a validator after Japanese SBI Holdings explored a similar move.
Pro-XRP lawyer Bill Morgan responded to the recent revelation that Infinite Block, a Korean virtual asset service provider, would join the XRP Ledger as a validator.
Furthermore, he underscored the importance of this advancement in the XRPL ecosystem.
Morgan, a well-known advocate for initiatives associated with Ripple and XRP, provided his view on the matter.
Infinite Block Joins XRP Ledger
Morgan’s assertion highlights the broader ramifications of this action in light of the recent additions of the validator to the XRPL network.
A brief time after SBI Holdings’ SBI VC Trade became an XRPL validator, he provided commentary on the timing of Infinite Block’s participation.
Morgan remarked, “Can’t be a coincidence so soon after the SBI entity became an XRPL validator.”
Furthermore, he highlighted the strategic unity that existed among these additional validators.
However, this underscores the collaborative endeavors and prospective synergies influencing the XRPL domain.
The participation of Infinite Block as a validator in the XRPL ecosystem carries substantial ramifications for the company’s endeavors to expand its operations domestically and internationally.
Compliance with anti-money laundering and travel regulations, among others, distinguishes South Korea’s comprehensive regulatory framework for blockchain technology.
Therefore, the participation of Infinite Block strengthens the dedication to adhering to regulatory requirements and cultivates a secure atmosphere for both XRPL initiatives and investors.
CEO Jung Gu-tae of Infinite Block articulated the company’s commitment to regulatory compliance and user protection, stating, “As a fully regulated custodial business operator, we will provide blockchain regulatory support infrastructure suitable for the institutional characteristics of the Korean virtual asset industry.”
The primary objective of Infinite Block is to bolster the dependability of XRPL on a global scale by making regulatory compliance a top priority.
Moreover, it seeks to promote inclusivity in governance and facilitate the growth of ecosystems.
The convergence of technological innovation and regulatory compliance highlights the potential of XRPL as a decentralized layer 1 blockchain that can provide support for XRP.
About SBI Holdings’ Recent Announcement
On Friday, May 10, SBI VC Trade, a notable Japanese cryptocurrency firm, declared the launch of its node operation functioning as an XRPL validator.
This action indicated a deliberate endeavor to improve the XRPL ecosystem.
Through capitalizing on its status as a reliable validator within the network, SBI VC Trade sought to foster ecosystem advancement while also serving as a representative of the XRP holder community in Japan.
On May 10, SBI VC Trade declared publicly about its transition to the validator position.
By doing so, it strategically positioned itself to become one of the esteemed “trusted validators” on the network’s Unique Node List (UNL).
Ahead of time, the organization alluded to the potential sway it might possess in its capacity as a registered validator within the UNL.
This signifies an eagerness to engage in the process of voting on decisions regarding novel attributes and advancements within the network.
Morgan, an advocate for XRP, utilized X’s platform to provide insight into this significant development.
Morgan’s post, in which he exclaimed, “Really Good News,” incited a surge of optimism among members of the XRPL community, thereby bolstering confidence in XRP’s future prospects.
