February 26 – BDACS, a leading digital asset institutional custody firm in Korea, announced on the 26th that it has signed a strategic partnership with Ripple, the leading provider of digital asset infrastructure for financial institutions.
This partnership aligns with the Financial Services Commission’s (FSC) recently announced roadmap for regulatory approval of institutional participation in the digital asset market. By providing secure XRP and RLUSD custody services for institutional investors, this partnership will support the growth of XRPL developers and its ecosystem, expand the usability of Ripple’s stablecoin (RLUSD), and leverage synergies with Busan, Korea’s blockchain regulation-free zone. Working together, BDACS and Ripple aim to advance the institutional-level custody market and increase both technical and commercial opportunities within South Korea.
Speaking on the partnership, BDACS’s CEO, Harry Ryoo, said, “BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives. Ultimately, this partnership will enable both companies to enhance and expand the digital asset ecosystem.”
BDACS will utilize Ripple Custody, which provides institutional-grade software infrastructure for crypto custodians, exchanges, OTC desks and more to safely store, manage and access digital assets while maintaining bank-grade security. The amount of crypto assets custodied is expected to reach $16T by 2030, and moreover, 10% of the world’s GDP is expected to be tokenized by 2030. Custody is the foundation of any digital assets business, enabling new use cases across tokenization, asset management, stablecoin issuance and more.
BDACS supports both XRP and RLUSD. XRP is a digital asset purpose-built for payments and native to the XRPL, a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging crypto-native and real-world assets. RLUSD is an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance and backed by Ripple’s years of experience working with crypto and the existing financial system.
“We’re excited to partner with BDACS to bring Ripple’s custody solution to institutional investors in South Korea. With the crypto market surging and new opportunities emerging under the FSC’s regulatory roadmap, we view this collaboration as a critical step in expanding the digital asset ecosystem,” said Fiona Murray, Managing Director of APAC at Ripple.
With the Korean regulatory environment shifting positively—allowing corporate participation in digital assets and establishing a framework for stablecoins—the demand for specialized digital asset custody services is expected to surge. In this evolving market, BDACS is one of the first institutional-grade custody providers, enabling investors to securely trade XRP, RLUSD, and other digital assets within Korea’s regulatory ecosystem.
Thanks to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to tokenize, store, exchange and move digital assets. Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions.
BDACS has been rapidly expanding its presence in the global digital asset market, particularly in areas such as tokenized securities (STO) and real-world asset tokenization (RWA), and through strategic partnerships with major protocols such as Avalanche and Polymesh. In December of last year, BDACS established a significant partnership with Woori Bank, one of Korea’s leading commercial banks, to advance digital asset custody services.
BDACS
BDACS is the leading regulated digital asset custodian for institutions in Korea, providing secure, compliant, and innovative custody solutions that enable our clients to confidently navigate the evolving digital asset landscape. As the only regulated custodian with a strategic partnership with a top-tier commercial bank in Korea, BDACS is setting the benchmark for institutional-grade digital asset custody. Our comprehensive suite of services is designed to meet the complex needs of institutional clients, offering tailored custody solutions, seamless trade settlement, and broad market access. With the most expansive and forward-looking capabilities in the industry, BDACS is shaping the future of digital asset custody—delivering the trust, security, and operational efficiency that institutions require to drive their digital asset strategies forward in Korea and globally.
Ripple
Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world tokenizes, stores, exchanges, and moves value. BDACS Signs Strategic Partnership with Ripple to Expand Institutional-Level Custody and the Digital Asset Ecosystem in South Korea
