Home » Journal » XRP and RLUSD Take Center Stage in South Korea as Ripple Partners with Custody Giant BDACS
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XRP and RLUSD Take Center Stage in South Korea as Ripple Partners with Custody Giant BDACS

Samuel Munene Samuel Munene
February 27, 2025
act as a top notch crypto journalist and expert and rewrite and expand a bit on the information below. Do it in a journalistic fashion, be concise and to the point. Add markdown formatting. Avoid phrases like "in a surprising turn of events". At least 600 words. Dont include any quotes. Make sure to produce an article based on the information that I provide below. Don't add any fluff content. Make sure to add all information that I provide below. Don't miss any info. Include all the details Also include necessary H2s

Ripple’s latest move signals big changes for South Korea’s crypto scene. The blockchain leader has teamed up with a major custody firm. Institutional investors now have a secure way to dive into digital assets. This partnership taps into a shifting regulatory landscape. Besides, it’s a bold step toward growing the onchain economy in the region.

Ripple and BDACS Join Forces for Crypto Custody

Ripple announced a strategic partnership with BDACS, a top Korean custody provider, on February 26, 2025. BDACS will use Ripple Custody to safeguard XRP, RLUSD, and other crypto assets. 

The collaboration targets institutional investors eager to join the digital asset market. Ripple announced the X news, highlighting BDACS’s contribution to the expansion of the XRP Ledger. The Financial Services Commission’s (FSC) roadmap for regulated cryptocurrency engagement in South Korea is in line with this.

Harry Ryoo, CEO of BDACS, called the partnership a game-changer. He said it strengthens Ripple’s blockchain initiatives with reliable custody services. 

Fiona Murray, Ripple’s APAC Managing Director, echoed this sentiment. She noted that the collaboration expands the digital asset ecosystem in South Korea. The partnership leverages Busan’s blockchain-friendly zone for added synergy.

XRP and RLUSD See Rising Adoption in Korea

XRP, a payment-focused digital asset, powers the XRPL, a stable blockchain with over a decade of reliability. RLUSD, Ripple’s USD-pegged stablecoin, targets enterprise use with a focus on trust and compliance. 

BDACS now supports both assets, boosting their adoption among Korean institutions. Ripple’s X post highlighted how this move aids XRPL developers and stablecoin infrastructure. The custody setup opens doors for tokenization and asset management use cases.

Market data shows XRP trading at $2.24 at press time, down 1.92% in 24 hours. Over the past week, its price dropped 17.27%, with a trading volume of $5.95 billion. Still, the partnership highlights XRP’s institutional appeal. RLUSD also benefits, gaining a foothold in Korea’s evolving market.

Ripple Custody Fuels Institutional Growth

Ripple Custody provides bank-grade security for crypto custodians and exchanges. BDACS taps this infrastructure to manage digital assets safely. 

Experts predict crypto custody will hit $16 trillion by 2030. Ripple’s blog notes 10% of global GDP could be tokenized by then. This partnership positions BDACS as a pioneer in Korea’s custody space.

Previously, BDACS partnered with Woori Bank in December 2024. That deal also focused on advancing custody services. Now, with Ripple, BDACS eyes tokenized securities and real-world asset tokenization, collaborating with protocols like Avalanche and Polymesh.

Read also: Onyxcoin (XCN) Price Can Still Reach $1 This Bull Run—Here’s Why

South Korea’s Regulatory Shift Boosts Demand

Korea’s FSC recently greenlit corporate crypto participation. A stablecoin framework is also in the works. This regulatory shift fuels demand for custody services. BDACS and Ripple aim to meet this need with secure, compliant solutions. With 60+ global licenses, Ripple brings seasoned expertise to the table.

BDACS’s rapid global expansion complements Ripple’s vision. Together, they’re shaping South Korea’s digital asset future. Investors can now trade XRP and RLUSD confidently within the regulatory ecosystem.

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

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