BDACS partners with Ripple to expand institutional crypto custody in South Korea, integrating Ripple Custody for secure storage of XRP, RLUSD, and other digital assets.
BDACS, South Korea’s first regulated custodian for institutional digital assets, has announced a strategic partnership with blockchain firm Ripple. This alliance aims to expand secure custody services for XRP, RLUSD, and other cryptocurrencies, aligning with the country’s evolving regulatory framework for institutional crypto integration.
BDACS Partners With Ripple Strengthen Institutional Crypto Custody
According to Ripple’s announcement, the partnership introduces Ripple Custody, a platform designed with institutional-grade protections, to BDACS’s custody infrastructure. This will enhance the security and accessibility of XRP, Ripple’s native token, and RLUSD, its U.S. dollar-pegged stablecoin.
BDACS CEO Harry Ryoo emphasized that the collaboration will provide “secure and reliable custody services” to support Ripple’s blockchain initiatives. Fiona Murray, Ripple’s APAC managing director, highlighted the significance of this partnership in strengthening South Korea’s digital asset sector.
Regulatory Alignment and Market Expansion
The partnership aligns with the Financial Services Commission’s (FSC) 2025 regulatory strategy, which aims to formalize institutional participation in crypto markets, including stablecoins. South Korea’s broader blockchain initiatives, such as Busan’s experimental blockchain zone, are expected to drive greater adoption of digital assets.
Established in 2022 and headquartered in Busan, BDACS is a leading institutional crypto custodian in South Korea. The company recently collaborated with Woori Bank to refine digital asset custody solutions, reinforcing its role in the financial ecosystem.
Ripple, backed by 60+ international regulatory approvals, brings extensive blockchain expertise to the partnership. The company further strengthened its custody capabilities through its 2024 acquisition of Standard Custody & Trust.
Future of Institutional Crypto Custody
This partnership represents a critical step in developing secure and compliant digital asset services for institutions in South Korea. As regulatory frameworks evolve, BDACS and Ripple are poised to play a key role in expanding blockchain adoption.
For further updates on digital asset regulations and institutional custody solutions, follow BDACS and Ripple’s official channels.
