Ripple partners with BDACS to enhance secure XRP and RLUSD custody in South Korea. This partnership is to drive institutional adoption and regulatory compliance.
Ripple, a global leader in digital asset infrastructure, has partnered with BDACS to enhance institutional-grade custody services for XRP and RLUSD in South Korea. This collaboration enhances the security and accessibility of XRP for institutional investors. As a result, the broader digital asset ecosystem will gain support. In addition, it will help establish the XRP network as a mature and resilient asset. Mercex announced the news on its official X account, stating, “This move is set to enhance the security of crypto assets in the region.”
🚀 Exciting news! Ripple Labs has partnered with BDACS to provide institutional-grade custody for XRP and RLUSD in South Korea. This move is set to enhance the security of crypto assets in the region. Stay tuned for more updates! #Ripple #XRP #CryptoNews #Mercex #MercexNews
— Mercex (@mercex_io) February 27, 2025
Ripple and BDACS Boost XRP & RLUSD Adoption in South Korea
This is in line with the Financial Services Commission’s (FSC) roadmap for institutional participation in the digital asset market. Ripple and BDACS want to help drive the growth of XRPL developers. Further, they intend to increase the usability of Ripple’s stablecoin by using Busan’s blockchain regulation-free zone and secure custody services for XRP and RLUSD.
BDACS wants to integrate Ripple Custody, a secure software interface for crypto custodians, exchanges, and OTC desks. This integration will enable institutional investors to store and manage XRP more securely while keeping institutional standards standards in banking. Even though demand for secure custodied digital assets continues to grow, experts anticipate that the total value of custodied digital assets will balloon to $16 trillion by 2030. It shows us the importance of reliable custody services in the digital asset industry.
XRP Demand Rises as South Korea Eases Digital Asset Rules
Ripple’s collaboration with BDACS is set to incite institutional adoption of XRP. Fiona Murray is Ripple’s Managing Director for APAC. Murray said that the partnership happens at a time when the crypto market is growing and new opportunities are emerging under the FSC’s regulatory framework of the crypto market. According to her, this move would go a long way in advancing the digital asset ecosystem. Harry Ryoo, CEO of BDACS, echoed a similar belief regarding partnership. He said that the company would offer a secure and reliable custody service to help Ripple’s blockchain endeavor.
With the change in the regulatory environment of South Korea, allowing for corporate investment in digital assets, XRP custody services that are specialized will be required as demand rises. Already expanding in areas such as tokenized securities and real-world asset tokenization, BDACS has been expanding. Through this partnership, Ripple and BDACS aim to strengthen the security and speed of XRP transactions while ensuring broader institutional adoption.
