Ripple has announced that it has formed a new partnership with BDACS, an institutional custody company for digital assets in South Korea. BDACS will use Ripple Custody to provide custody infrastructure services for XRP, RULSD, and other crypto.
Ripple in South Korea: the partnership with the institutional crypto custody company BDACS
Ripple expands in South Korea thanks to the new strategic partnership with BDACS, one of the leading institutional digital asset custody companies in the country.
“Today we collaborate with BDACS to expand institutional cryptocurrency custody in South Korea: https://on.ripple.com/41vVijE @BDACSKorea will use Ripple Custody to provide a secure infrastructure for XRP, RLUSD, and other cryptographic assets, supporting institutional adoption, the growth of XRPL developers, and the evolution of the Korean regulatory landscape. An important step to advance the onchain economy in the region.”
In practice, BDACS will use Ripple Custody to provide custody infrastructure services for XRP, the stablecoin RLUSD, and other crypto assets.
Not only that, the partnership will support the developers of XRP Ledger (XRPL) and the growth of the Ripple ecosystem in South Korea.
The common idea of Ripple and BDACS is primarily to advance the institutional level custody market and to increase technical and commercial opportunities in South Korea.
Ripple in South Korea: BDACS supports both XRP and RLUSD
As anticipated, the new partnership provides that BDACS supports both XRP and RLUSD. XRP is the native crypto for payments on the XRP Ledger (XRPL), while RLUSD is Ripple’s USD-denominated stablecoin, launched last December 2024.
In this regard, Fiona Murray, Managing Director APAC of Ripple, commented as follows:
“We are excited to collaborate with BDACS to bring Ripple’s custody solution to institutional investors in South Korea. With the bull market in cryptocurrencies and new opportunities emerging from the FSC’s regulatory roadmap, we view this collaboration as a fundamental step to expand the digital asset ecosystem”
This news follows an interest of Ripple already expressed for the APAC area. In fact, last June, Ripple had launched a XRPL Japan and Korea fund, with the goal of supporting the innovation of XRP Ledger in those markets.
The amount dedicated to this fund has been tens of millions of dollars, with the general commitment to provide financial, technical, and commercial support to the developers of XRP Ledger.
Among other things, Ripple would have dedicated this fund to explore use cases of XRPL in various sectors, investments in startups, and also the growth of the community with local events, hackathons, and educational programs.
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The price of XRP
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While Ripple focuses on its strategic partnerships and expansion, the price of XRP follows the general bear trend of the crypto market.
At the time of writing, XRP is worth $2.20, in a dump of -18% compared to seven days ago and -28% compared to a month ago.
As with all crypto, the euphoria of support for the sector from the winner of the 2024 USA presidential elections, Donald Trump, now seems to be scaling back.
Indeed, it seems that Trump and his new tariff policy have become the cause of a general collapse of the crypto, led by the price of Bitcoin which today has fallen to 82,000$.
In any case, the current price of XRP remains above $2 and that is above that threshold so dreamed of by its supporters, and achieved only starting from December 2024.
Source: https://en.cryptonomist.ch/2025/02/27/ripple-expands-in-south-korea-with-bdacss-institutional-crypto-custody/