- Ripple has partnered with BDACS to enhance institutional crypto custody in South Korea.
- Ripple Custody will help BDACS offer secure storage for XRP and RLUSD to institutional investors.
Ripple has announced a strategic partnership with BDACS, a South Korea-based digital asset custody firm. The collaboration aims to enhance institutional-grade crypto custody services, providing secure storage for XRP and RLUSD.
BDACS will leverage Ripple Custody to offer top-tier infrastructure for institutional investors. This move aligns with South Korea’s Financial Services Commission (FSC) roadmap for institutional crypto adoption.
Expanding XRP Ledger Adoption
The partnership is expected to accelerate the adoption of the XRP Ledger (XRPL) by increasing accessibility for institutions. BDACS will provide custody solutions for XRP, Ripple’s native cryptocurrency, and RLUSD, the company’s US dollar-pegged stablecoin launched in 2024.
South Korea’s Busan Free Zone is seen as a key area where the collaboration could drive further adoption. As regulatory clarity improves, more institutions may turn to Ripple’s solutions.
Crypto Market Growth and Institutional Demand
With the crypto custody sector projected to reach a $16 trillion market by 2030, Ripple’s entry into South Korea’s institutional space could mark the beginning of wider adoption across the Asia-Pacific region.
Stablecoin issuance, tokenization of real-world assets (RWAs), and institutional asset management are poised for massive growth. This partnership positions Ripple and BDACS at the forefront of this emerging market.
BDACS’ Growing Global Presence
BDACS has been expanding its global presence through key partnerships. The firm has already collaborated with Avalanche and Polymesh for tokenized securities and RWAs. In December 2024, it partnered with South Korea’s Woori Bank to advance crypto custody solutions within the banking sector.
Market Reaction and XRP Price Action
Despite the positive news, XRP’s price saw a slight decline. On February 26, XRP was down 3%, trading at around $2.23. Market sentiment remained cautious, but long-term adoption trends could drive future price movements.
Ripple’s partnership with BDACS marks a significant step in advancing crypto custody services in South Korea. By offering secure solutions for institutional investors, Ripple is positioning XRP and RLUSD for broader adoption. As regulatory frameworks evolve, this collaboration could pave the way for further growth in the digital asset ecosystem.
