Ripple Labs has partnered with BDACS, a South Korean digital asset custody provider. This partnership aims to support institutional custody for XRP and Ripple USD (RLUSD). BDACS will use Ripple Custody to offer secure infrastructure services for XRP, RLUSD, and other digital assets.
The partnership aligns with South Korea’s Financial Services Commission’s roadmap for institutional participation in the digital asset market. It will boost XRPL developers and expand Ripple’s stablecoin usability. BDACS will provide a secure environment for institutional investors to store and manage digital assets.
CEO of BDACS, Harry Ryoo, expressed confidence in the partnership. He said BDACS will deliver reliable custody services, helping Ripple advance blockchain initiatives. The collaboration aims to strengthen the digital asset ecosystem in South Korea.
Ripple Custody offers institutional-grade infrastructure. It helps custodians, exchanges, and OTC desks manage digital assets with bank-grade security. The global custody market is expected to reach $16 trillion by 2030, and tokenization will likely represent 10% of the world’s GDP by then.
Secure custody services will enable tokenization, asset management, and stablecoin issuance. XRP powers payments on the XRPL blockchain, which reliably tokenizes and exchanges assets. RLUSD operates as a USD-backed stablecoin designed for compliance and utility.
Ripple XRP strengthens institutional adoption in South Korea
Managing Director of APAC at Ripple Fiona Murray welcomed the partnership. She highlighted the importance of custody solutions as South Korea’s crypto regulations evolve. The partnership will open new opportunities in the region’s digital asset market.
BDACS has been expanding its footprint in tokenized securities and real-world asset tokenization. The company has partnerships with major protocols like Avalanche and Polymesh. Last year, BDACS partnered with Woori Bank to enhance digital asset custody services.
Ripple’s extensive regulatory licenses and years of experience position it as a key player in the digital asset ecosystem. This collaboration is expected to accelerate the institutional adoption of digital assets in South Korea.
