Ripple Partners with BDACS to Offer Crypto Custody for Institutions in South Korea
Ripple Labs has partnered with South Korea's crypto custody provider BDACS to enhance custody services for institutional clients in the region. Key details include:
- Ripple will integrate its custody solution with BDACS, enabling secure storage of digital assets including XRP and RLUSD.
- This collaboration supports a projected $16 trillion crypto custody market by 2030.
- BDACS aims to expand its offerings in tokenized securities and real-world asset tokenization.
- The partnership aligns with South Korea’s evolving regulatory framework favorable to crypto investments.
- Ripple plans to develop an institutional-grade DeFi ecosystem on the XRP Ledger, featuring innovations like a permissioned DEX and a credit-based lending protocol.
This initiative is expected to strengthen Ripple's presence in South Korea's crypto landscape and improve custody options for institutional investors.