The collaboration aims to advance the institutional-level custody market in South Korea and expand the technical and commercial opportunities within the country's digital asset ecosystem.
The partnership aligns with the Financial Services Commission’s (FSC) recently announced roadmap, which supports institutional participation in the digital asset market. The collaboration will provide secure custody services for XRP and RLUSD, bolstering the growth of XRPL developers and improving the usability of Ripple’s USD-denominated stablecoin, RLUSD. Additionally, the partnership will leverage synergies with Busan, South Korea’s blockchain regulation-free zone.
BDACS will integrate Ripple Custody, an institutional-grade software infrastructure that offers secure storage, management, and access to digital assets. The solution is designed for use by crypto custodians, exchanges, and over-the-counter (OTC) desks, providing bank-grade security.
It will support both XRP, a digital asset built for payments on the XRPL blockchain, and RLUSD, Ripple’s enterprise-grade stablecoin. XRP is known for its stability and reliability in tokenizing and exchanging both crypto-native and real-world assets. RLUSD, backed by Ripple’s extensive experience in the crypto and financial sectors, is designed with a focus on trust, utility, and compliance.
With South Korea’s evolving regulatory environment allowing corporate participation in digital assets and creating a framework for stablecoins, the partnership is well-positioned to meet the increasing demand for specialised custody services. BDACS will enable institutional investors to trade XRP, RLUSD, and other digital assets within the country’s regulatory framework.
BDACS expands in the global digital asset marketBDACS has been growing its footprint in the global digital asset market, focusing on tokenized securities (STO) and real-world asset tokenization (RWA). The firm has established strategic partnerships with protocols such as Avalanche and Polymesh.
In December 2024, BDACS partnered with Woori Bank, one of South Korea’s major commercial banks, to further develop digital asset custody services. The new partnership with Ripple is expected to build on this momentum, providing critical support to financial institutions in South Korea.
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