Basri Caneri 
Ripple Labs announced a strategic alliance with BDACS, a South Korea-based digital asset custody company. This partnership includes the integration of Ripple’s Ripple Custody solution by BDACS to enable institutional-grade secure custody of digital assets such as XRP and Ripple USD (RLUSD).
Noting that South Korea is a rapidly evolving market in terms of blockchain and crypto asset regulations, Ripple aims to help institutional investors in the country gain more secure access to digital assets with this step.
Ripple’s Expansion into the South Korean Market
In recent years, South Korea has become one of the countries making significant strides in institutional crypto asset management and regulatory framework. Ripple’s partnership with BDACS is in line with its goals to grow the XRP Ledger ecosystem and expand the use cases of its RLUSD stablecoin.
Ripple President Monica Long stated that institutional adoption in the Asia-Pacific (APAC) region is growing rapidly:
“South Korea is becoming an important market for institutional adoption of crypto assets. We are excited to expand XRP and RLUSD custody services with BDACS.”
Harry Ryoo, CEO of BDACS, stated that the cooperation with Ripple will increase institutional investor confidence in the crypto sector:
“Through this partnership, we will provide a secure and reliable infrastructure for Ripple’s blockchain-based financial solutions. This will make digital asset management more accessible for institutional investors.”
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