Ripple Partners with BDACS to Advance Crypto Custody in South Korea

Ripple announced a strategic partnership with South Korean digital asset custody firm BDACS on Thursday, aiming to bolster institutional-grade custody services for XRP and RLUSD. This collaboration aligns with the Financial Services Commission's (FSC) roadmap for regulatory approval of institutional crypto participation. Ripple Custody, an institutional-grade software infrastructure, will be deployed by BDACS to securely manage digital assets. Industry forecasts suggest custodied crypto assets could reach $16 trillion by 2030. BDACS CEO Harry Ryoo expressed optimism about supporting Ripple's blockchain initiatives. Ripple's President Monica Long highlighted South Korea's potential for institutional crypto adoption. This partnership follows DekaBank's launch of crypto trading and custody services using Ripple Custody earlier this week.