Ripple’s latest quarterly report displays some very interesting data. In short, the report confirms that Malta has surpassed South Korea as the leading country for Ripple trading.
The report is backed up by Cory Johnson, the Chief Market Strategist at Ripple who stated on July 31st that “We touch on this in our @Ripple quarterly markets report, which shows that Malta — not South Korea — is now the leading trader of #XRP.”
Ripple is now coming off one its best quarters with lots of new customers and partnerships, as well as with $73,53 million XRP sold. According to the report, the company sold $56,66 million XRP programmatically in Q2 2018 alone.
Ripple’s report also contains data about the influence of South Korean trading. In short, even though South Korea dominated the digital asset trading market in the first quarter (even accounting for 70% of the global volume on some days), at the end of the second quarter the trading had fallen to the fourth position in global share.
Malta continues its rise as one of the most crypto-savvy countries
The fact that Malta is the leading trader of XRP should not come as a surprise, as the country has officially acknowledged cryptocurrencies and their value. Almost a month ago, the government of Malta passed three laws that allow companies to trade with cryptocurrencies as well as to issue new ones.
On July 4th when the laws have been passed, Joseph Muscat, the Prime Minister and Leader of the Labor Party posted on Twitter that: “#Malta officially the first country worldwide to have holistic legislative framework regulating #blockchain & #DLT technologies. We will be the #global hub for market leaders in this new sector. Now for the implementation of #BlockchainIsland -JM @SilvioSchembri.”