Ripple President Monica Long recently took to X to emphasize the critical importance of institutional adoption of digital assets in South Korea. In her announcement, she unveiled Ripple’s new partnership with BDACS, a leading digital asset custody firm in the region. The collaboration aims to build a robust custody infrastructure for cryptocurrencies like XRP and RLUSD, ensuring secure storage and efficient management for institutional investors.
Strengthening Custody Infrastructure
The partnership with BDACS is set to enhance the overall security and accessibility of crypto assets. BDACS will integrate Ripple Custody into its platform, providing institutions a reliable and regulated solution to trade and store digital assets. BDACS CEO Harry Ryoo highlighted the significance of this collaboration, stating that it will offer a secure platform that meets all regulatory standards. This move aligns with South Korea’s regulatory roadmap from the Financial Services Commission, which encourages increased institutional participation in the digital asset market.
A Strategic Move for Growth
Fiona Murray, Managing Director of APAC at Ripple, expressed her optimism about the partnership, noting that it will enable Ripple to extend its custody services to more institutional investors in South Korea. As regulatory reforms and enhanced corporate participation drive growth in the crypto sector, this collaboration is expected to play a pivotal role in expanding the adoption of digital assets. With secure custody solutions becoming increasingly essential, Ripple and BDACS are poised to set new benchmarks in the region’s evolving crypto landscape.
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