Key Takeaways:
- Ripple x BDACS Partnership: Ripple partners with BDACS to offer institutional-grade crypto custody in South Korea, including XRP and RLUSD.
- Regulatory Alignment: The move aligns with South Korea’s Financial Services Commission (FSC) efforts to facilitate institutional crypto adoption.
- Market Growth Potential: Ripple Custody forecasts the total value of custodied crypto could hit $16 trillion by 2030.
Ripple Labs has partnered with BDACS, a South Korean digital asset custody provider, to offer institutional-grade custody for XRP, Ripple USD (RLUSD), and other cryptocurrencies.
Announced on February 26, the collaboration enables BDACS to integrate Ripple Custody, Ripple’s institutional digital asset custody solution, to provide secure storage for financial institutions.
Today, we are partnering with BDACS to expand institutional crypto custody in South Korea: https://t.co/DhgeumFCn8@BDACSKorea will use Ripple Custody to provide secure infrastructure for XRP, RLUSD, and other crypto assets—supporting institutional adoption, XRPL developer…
— Ripple (@Ripple) February 27, 2025
This move aligns with South Korea’s increasing regulatory focus and institutional crypto adoption.
Ripple President Monica Long emphasized the importance of institutional custody as demand for digital assets grows.
She highlighted that South Korea is ready for institutional crypto adoption and expressed excitement about expanding Ripple Custody’s presence in the Asia-Pacific (APAC) region.
The partnership aligns with South Korea’s Financial Services Commission (FSC) regulations, supporting the growth of the XRPL developer ecosystem and the usability of RLUSD.
@BDACSKorea is excited to partner with @Ripple to enhance institutional-grade custody for XRP, RLUSD, and other digital assets in Korea.
— BDACS (@BDACSKorea) February 27, 2025
It also leverages synergies with Busan, a blockchain regulation-free zone.
BDACS CEO Harry Ryoo reaffirmed the company’s commitment to providing secure infrastructure for institutional crypto adoption.
He stated that the partnership would strengthen and expand the digital asset ecosystem.
Ripple Custody projects that the total value of custodied cryptocurrencies could reach $16 trillion by 2030, underscoring the increasing demand for secure institutional custody solutions.
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