Ripple Labs has entered a strategic partnership with BDACS, a leading South Korean digital asset custody provider, to enhance institutional custody solutions for XRP and Ripple USD (RLUSD). The collaboration, announced on February 26, marks a significant step in Ripple’s expansion within the Asia-Pacific (APAC) region.
Ripple Custody Expands in South Korea
Through this partnership, BDACS will integrate Ripple Custody, Ripple’s institutional crypto custody solution, to safeguard XRP, RLUSD, and other digital assets. The move comes as South Korea experiences a surge in institutional crypto adoption, aligning with evolving regulatory frameworks set by the Financial Services Commission (FSC).
Ripple President Monica Long emphasized the importance of institutional-grade custody, stating, “South Korea is gearing up for a wave of institutional crypto adoption — very excited for Ripple Custody to plant another flag in APAC with BDACS for XRP and RLUSD.”
BDACS CEO Harry Ryoo echoed Long’s sentiment, highlighting his firm’s commitment to building a secure infrastructure for institutional digital assets. “BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives,” Ryoo stated.
South Korea is gearing up for a wave of institutional crypto adoption — very excited for Ripple Custody to plant another flag in APAC with @BDACSKorea for XRP and RLUSD. The importance for secure, institutional-grade custody technology can’t be overstated, especially as… https://t.co/dw98azf5rr
— Monica Long (@MonicaLongSF) February 27, 2025
Regulatory Alignment and Growth in Institutional DeFi
The partnership is designed to support South Korea’s evolving regulatory landscape, ensuring compliance with institutional participation guidelines. Ripple noted that the collaboration would bolster the XRP Ledger (XRPL) ecosystem, expand the usability of RLUSD, and leverage Busan’s blockchain-friendly regulatory environment.
Furthermore, Ripple has unveiled a roadmap to develop an institutional decentralized finance (DeFi) ecosystem on the XRPL blockchain. The initiative includes:
- A permissioned decentralized exchange (DEX)
- A credit-based DeFi lending protocol
- A multi-purpose token (MPT) standard
These developments build upon XRPL’s existing infrastructure, including price oracles and an automated market maker (AMM), reinforcing Ripple’s commitment to financial innovation.
Institutional Crypto Custody Market on the Rise
Ripple Custody projects that total custodied cryptocurrencies could reach $16 trillion by 2030. With South Korea emerging as a key player in institutional crypto adoption, Ripple’s partnership with BDACS positions both companies at the forefront of this evolving market.
Also Read: Ripple Unveils 2025 Roadmap for Institutional DeFi on XRP Ledger
As regulatory clarity continues to shape the industry, Ripple’s latest moves signal its commitment to providing secure, scalable, and compliant digital asset solutions for institutional investors worldwide.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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