Ripple and BDACS Collaborate to Launch Crypto Asset Storage in South Korea!
Jakarta, Pintu News – Ripple, a leading blockchain company, recently announced a strategic partnership with BDACS, a digital asset firm based in South Korea.
The partnership aims to provide institutional-grade custody services for Ripple and RLUSD. The initiative is in line with South Korea’s Financial Services Commission (FSC) roadmap that supports institutional involvement in the country’s digital asset market.
With this partnership, Ripple and BDACS hope to expand the use of crypto storage solutions among institutions in South Korea.
Ripple Storage: A Secure Solution for Digital Assets
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Ripple Custody, which launched in October 2024, is an institutional-grade digital asset custody solution that offers bank-grade security. It is designed for exchanges, depositories, and OTC desks that require secure and reliable digital asset storage.
With the capacity to manage various crypto assets such as Ripple (XRP) and RLUSD, Ripple Custody is a top choice for many financial institutions and fintech companies.
Ripple’s projections suggest that the crypto storage market could reach a valuation of up to $16 trillion by 2030, given estimates that 10% of global GDP will be tokenized by that time.
Expectations from the Partnership
The partnership between Ripple and BDACS is expected to yield positive results in the long run. Ripple, with over 60 global regulatory licenses, has deep expertise in tokenization, payments, and digital asset management.
On the other hand, BDACS is one of the first licensed institutional storage providers in South Korea that allows users to securely store and trade various crypto assets.
This collaboration not only supports Ripple’s blockchain initiatives but also strengthens both companies’ expansion in the digital asset ecosystem.
Ripple and BDACS Executive Reaction
Harry Ryo, CEO of BDACS, stated that their storage solution will support Ripple’s blockchain initiatives and strengthen its expansion in the digital asset ecosystem.
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Fiona Murray, APAC Management Director at Ripple, expressed her excitement for this collaboration that extends Ripple’s storage solutions to South Korea.
“Following the recent surge in the crypto market and the new opportunities emerging under the FSC’s regulatory roadmap, we see this collaboration as an important step in expanding the digital asset ecosystem,” Murray said.
Monica Long, President of Ripple, in a statement on X, emphasized that South Korea is preparing for a surge in institutional crypto adoption and added that institutional-grade storage solutions are essential, especially as institutions gear up for increased interest in crypto.
Overall, the partnership between Ripple and BDACS marks an important step in the evolution of the digital asset market in South Korea. With strong regulatory support and collaboration between key players in the industry, the future of institutional crypto adoption in the country looks bright.
Initiatives like this not only strengthen the digital financial infrastructure but also open up new opportunities for investors and users across the region.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- The Crypto Basic. Ripple Partners with South Korea’s BDACs to Launch Institutional Grade Custody for XRP and RLUSD. Accessed on February 28, 2025
- The Coin Republic. Ripple Partners with BDACs to Boost XRP, RLUSD Adoption in South Korea. Accessed on February 28, 2025
