Ripple Partners to Provide Crypto Custody Infrastructure in South Korea

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Sujha Sundararajan

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Sujha Sundararajan

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Ripple custody South Korea

Ripple has partnered with South Korean digital asset firm BDACS to offer custody services for XRP and RLUSD stablecoin.

Announced Thursday, the strategic partnership aims to support the growth of XRP Ledger (XRPL) developers and its ecosystem. BDACS will leverage Ripple Custody to provide “institutional-level” digital asset custody services for South Koreans.

“The importance for secure, institutional-grade custody technology can’t be overstated, especially as enterprises prepare for an influx of crypto interest,” wrote Monica Long, President of Ripple.

Ripple-Backed Collaboration Strengthens RLUSD Usability and XRPL Ecosystem

The collaboration would also boost the usability of the RLUSD stablecoin, while offering support to the XRP Ledger ecosystem.

The South Korean Financial Services Commission (FSC) recently revealed a roadmap for regulation of institutional participation in the crypto market. The collaboration aligns with the regulator’s approach in not only supporting institutional adoption but also the growth of XRPL developers.

“BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives,” Harry Ryoo, BDACS’s CEO, noted.

BDACS to Utilize Ripple Custody, Supports XRP, RLUSD

Ripple Custody solution, which was launched in October 2024, will offer the necessary institutional custody infrastructure to safely store, manage and access digital assets.

Further, BDACS enables investors to securely trade XRP, RLUSD, and other crypto assets within Korea’s regulatory ecosystem. With more positive shifts in regulation, the demand for specialized crypto custody services is expected to surge in the nation.

Crypto assets custodied are expected to reach $16 trillion by 2030, enabling new use cases across tokenization and asset management. Fiona Murray, MD of Ripple APAC noted:

“With the crypto market surging and new opportunities emerging under the FSC’s regulatory roadmap, we view this collaboration as a critical step in expanding the digital asset ecosystem.”

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