Ripple President Monica Long’s Announcement

Ripple President, Monica Long, emphasized the significance of institutional adoption of digital assets in South Korea through a post on X. She announced Ripple’s new partnership with BDACS, a major digital asset custody firm in the region. The aim of this partnership is to enhance custody infrastructure for XRP, RLUSD, and other cryptocurrencies.

> 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… @MonicaLongSF on Twitter
> — February 27, 2025

Ripple Custody Eyes Growing Korean Institutional Market

Long expressed her excitement for the potential of Ripple Custody in South Korea’s evolving regulatory landscape and the rising interest in crypto services among institutions. This partnership aligns with South Korea’s regulatory roadmap from the Financial Services Commission (FSC), aimed at encouraging institutions to engage in the digital asset market.

Related: Ripple Expands Cross-Border Payments: New Licenses & RLUSD Stablecoin Set to Reshape 2025

BDACS Partnership to Enhance Crypto Custody Infrastructure

Ripple’s partnership with BDACS aims to strengthen South Korea’s framework for secure crypto custody services at the institutional level. By integrating Ripple Custody into BDACS’s system, both companies seek to provide institutions with a reliable place to manage XRP, RLUSD, and various other digital assets.

BDACS CEO Highlights Secure Platform for Institutions

Harry Ryoo, BDACS CEO, emphasized the importance of this collaboration, noting that the custody services will offer a secure platform for institutions to trade and store digital assets while adhering to regulatory standards. Ripple Custody is set to deliver an innovative custody solution, catering to crypto holders, exchanges, and OTC desks.

Related: Is the Ripple Lawsuit Set for a Breakthrough After SEC and Binance Agree to Pause Suit?

The global crypto market projects that the total assets under custody will reach $16 trillion by 2030. Secure custody technology is seen as vital for the growth of the digital asset ecosystem.

Fiona Murray, Managing Director of APAC at Ripple, also expressed optimism, stating that this partnership will enable Ripple to extend its custody solution to institutional investors in South Korea.

South Korea’s Regulatory Shifts Drive Custody Demand

Changes in South Korea’s regulatory environment are expected to accelerate the need for specialized custody solutions. Recent developments in corporate engagement with digital assets and the establishment of a regulatory framework for stablecoins suggest that demand for secure custody solutions will rise.

Additionally, BDACS is one of the first institutions in South Korea to offer these services, positioning itself as a leader in this burgeoning market.

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