Ripple has entered into a key partnership with BDACS to enhance institutional crypto custody services in South Korea. According to Ripple, this collaboration is designed to bolster the secure management of XRP, RLUSD, and other digital assets. It addresses the growing demand for institutional-grade custody solutions in the region.
South Korea’s Institutional Crypto Market Gains Momentum
This partnership aligns with South Korea’s regulatory roadmap, which promotes institutional participation in the digital asset sector. The Financial Services Commission (FSC) has been actively working on frameworks facilitating institutional entry into the crypto market, fueling the need for advanced custody solutions.
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Ripple’s President, Monica Long, noted that the adoption of digital assets by institutions in South Korea is accelerating. She highlighted Ripple Custody’s role in meeting regulatory expectations while ensuring institutions have access to a secure digital asset management system.
Ripple and BDACS Collaborate to Enhance Custody Infrastructure
BDACS will integrate Ripple Custody into its existing infrastructure, providing institutions with a regulated and secure environment for managing digital assets. The company aims to offer robust storage and trading solutions tailored for enterprises, crypto exchanges, and over-the-counter (OTC) trading platforms.
BDACS CEO Harry Ryoo emphasized that this collaboration will ensure a compliant and secure custody platform. It will minimize operational risks for institutional investors.
The global demand for secure asset storage is projected to rise significantly, with crypto custody assets expected to reach $16 trillion by 2030. Fiona Murray, Managing Director of APAC at Ripple stressed that this partnership reinforces Ripple’s ability to support institutional investors in South Korea.
She also highlighted that Ripple Custody will provide enhanced security protocols and risk management measures.
BDACS Positions Itself as a Leader in Crypto Custody
South Korea’s evolving regulatory landscape has accelerated the demand for specialized custody services. Recent advancements, including corporate adoption of digital assets and the introduction of stablecoin regulations, indicate a continuous rise in demand for institutional-grade custody infrastructure.
BDACS is among the pioneers in this sector, positioning itself as a leader by offering cutting-edge custody services tailored to regulatory standards. The Ripple-BDACS partnership represents a major step in strengthening South Korea’s digital asset custody landscape.
As institutional interest in crypto grows, this collaboration will play a key role in shaping the country’s digital economy. With BDACS expanding its custody solutions, it is well-positioned to become a dominant force in South Korea’s institutional crypto custody sector.
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