Ripple, which has recently been associated with US President Donald Trump, continues to expand outside the US.
At this point, Ripple has signed a strategic partnership with South Korean digital asset custody provider BDACS to support institutional custody for XRP and Ripple USD.
With this partnership, BDACS will integrate Ripple Custody, the company’s institutional crypto and digital asset custody solution, to store XRP and Ripple USD (RLUSD) for financial institutions in South Korea.
“Under the partnership, BDACS will leverage Ripple Custody to provide custody infrastructure services for XRP, RLUSD, and other crypto assets.
“At this point, the partnership will support XRP Ledger (XRPL) developers and ecosystem growth while also building infrastructure to support the RLUSD stablecoin.”
“BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives,” said BDACS CEO Harry Ryoo. “Ultimately, this partnership will enable both companies to develop and expand their digital asset ecosystem. BDACS will support both XRP and RLUSD.”
Ripple President Monica Long said that South Korea is preparing for a surge in institutional crypto adoption, adding, “South Korea is preparing for a wave of institutional crypto adoption. We are very excited to have Ripple Custody partner with BDACS for XRP and RLUSD.”
*This is not investment advice.
