BDACS Partners with Ripple to Enhance Digital Asset Custody Infrastructure
BDACS, a leading company in digital asset custody, has announced a strategic partnership with Ripple, a pioneer in enterprise-level digital asset infrastructure. This collaboration is designed to align with the recent guidelines from the Financial Services Commission, which aim to gradually permit corporate entry into the virtual asset market. Through this partnership, BDACS will provide secure custody services for XRP and RLUSD for institutional investors. It will also support the growth of XRP Ledger (XRPL) developers and the broader ecosystem, expand the use of the RLUSD stablecoin, and create synergies with the blockchain regulatory sandbox in Busan. This partnership aims to elevate the institution-level custody market and expand technological and business opportunities within South Korea.
According to Ryu Hong-yeol, CEO of BDACS, "This partnership will allow BDACS to offer secure and reliable custody services that support Ripple’s blockchain initiatives. Ultimately, it will serve as a catalyst for both companies to enhance and expand the digital asset ecosystem."
BDACS plans to leverage Ripple’s custody solutions to provide infrastructure for cryptocurrency managers, exchanges, and over-the-counter trades, ensuring the safe storage, management, and access to digital assets while maintaining institutional-level security. By 2030, the scope of digital assets under custody is expected to reach $16 trillion, with an estimated 10% of the global GDP being tokenized. Custody is foundational to all digital asset businesses, facilitating new use cases in tokenization, asset management, and stablecoin issuance.
Through this collaboration, BDACS will support both XRP and RLUSD. XRP, designed for payment purposes, has proven its reliability and stability over a decade as the native token of the decentralized Layer 1 blockchain, XRP Ledger. RLUSD, an enterprise-grade USD-backed stablecoin, emphasizes trust, flexibility, and compliance, drawing on Ripple’s expertise in both the crypto and traditional financial industries.
Fiona Murray, Ripple’s head for the Asia-Pacific region, expressed her enthusiasm for the partnership, stating, "We are pleased to offer Ripple’s custody solutions to institutional investors in Korea through our partnership with BDACS. As the crypto market rapidly grows and new opportunities emerge, in line with the Financial Services Commission’s regulatory roadmap, this partnership is a crucial step in expanding the digital asset ecosystem."
Given the recent positive regulatory changes, such as the gradual allowance of corporate trading and the establishment of a stablecoin regulatory framework, the demand for specialized digital asset custody companies is expected to rise exponentially. As one of the first institution-level custody companies in South Korea, BDACS plans to offer market accessibility solutions that allow investors to safely trade digital assets like XRP and RLUSD within the domestic regulatory environment.
Ripple provides essential services for the tokenization, custody, trading, and operation of digital assets, ensuring a secure and compliant digital asset infrastructure for financial institutions. With over a decade of experience in the digital asset industry and more than 60 regulatory licenses worldwide, Ripple is well-positioned in the market.
BDACS is expanding its presence in the global digital asset market through partnerships with major mainnets like Avalanche and Polymesh, focusing on security token offerings (STOs) and real-world asset tokenization (RWA). Notably, BDACS established a significant partnership with Woori Bank, one of South Korea’s top commercial banks, last December, focusing on digital asset custody business.
About BDACS
BDACS is a leading digital asset manager for institutions in South Korea, providing safe, compliant, and innovative management solutions to help clients confidently navigate the evolving digital asset landscape. BDACS sets the standard for institution-level digital asset management through strategic partnerships with top domestic banks and compliance with both domestic and international regulations. Its comprehensive service suite is designed to meet the complex needs of institutional clients, offering tailored management solutions, seamless trade settlement, and extensive market accessibility. With its broad and forward-looking capabilities, BDACS shapes the future of digital asset management, providing the trust, security, and operational efficiency that institutions need to advance their digital asset strategies both locally and globally.
About Ripple
Ripple is a leading company in digital asset infrastructure for financial institutions. By providing simple, compliant, and reliable software, Ripple addresses inefficiencies and spurs global financial innovation. Ripple’s solutions leverage the XRP Ledger (XRPL) and its native digital asset, XRP, designed for fast, affordable, and scalable transactions across developer and financial use cases. Ripple’s payment, custody, and stablecoin solutions lead the digital asset economy, with a proven track record validated by regulatory authorities and policymakers worldwide, building trust and confidence in enterprise blockchain. Together with its customers, partners, and developer community, Ripple is transforming how the world creates, stores, manages, and moves value.
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