Ripple Partners with BDACS for XRP and RLUSD Custody in South Korea

Ripple Partners with BDACS- Ripple Enhances Institutional Crypto Custody Services in South Korea

Ripple Partners with BDACS– Ripple Labs has entered into a strategic partnership with BDACS, a prominent South Korean digital asset custody provider, to offer institutional custody for XRP and Ripple USD (RLUSD). This partnership, announced on February 26, allows BDACS to integrate Ripple Custody—Ripple’s institutional crypto and digital asset custody solution—into their operations. This will enable South Korean financial institutions to securely hold XRP, RLUSD, and other digital assets.

Monica Long, Ripple’s president, emphasized the growing interest of enterprises in crypto and the importance of institutional-grade custody solutions. She stated, “South Korea is gearing up for a wave of institutional crypto adoption — very excited for Ripple Custody to plant another flag in APAC with BDACS for XRP and RLUSD.”

Aligning with South Korean Regulatory Goals

This move aligns with South Korea’s Financial Services Commission (FSC) roadmap for institutional crypto adoption. Ripple sees this partnership as an opportunity to grow the XRPL developer ecosystem, expand the usability of Ripple’s stablecoin RLUSD, and collaborate with Busan—South Korea’s blockchain regulatory-free zone.

BDACS CEO Harry Ryoo assured that their firm is dedicated to creating a secure infrastructure for institutional crypto adoption. He said, “BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives.”

Ripple Custody has ambitious expectations, forecasting that the total value of cryptocurrencies under custody will reach $16 trillion by 2030.

Ripple’s Roadmap for Institutional DeFi Ecosystem

Ripple is also laying out plans to build an institutional decentralized finance (DeFi) ecosystem on the XRP Ledger. The roadmap includes a permissioned decentralized exchange (DEX), a credit-based DeFi lending protocol, and the introduction of a new token standard—multi-purpose token (MPT). These developments aim to bolster Ripple’s position in the rapidly growing crypto space.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.