Ripple has partnered with BDACS to enhance institutional custody for XRP and RLUSD in South Korea. Additionally, this collaboration aligns with South Korea’s FSC roadmap to boost institutional crypto participation. Ripple stated the partnership will support XRPL developers, expand RLUSD’s usability, and leverage synergies with Busan’s blockchain regulation-free zone.
BDACS Ensures Secure Custody Services
BDACS CEO Harry Ryoo affirmed that BDACS will provide secure custody services for Ripple’s blockchain initiatives. Moreover, trust and security remain crucial as Ripple Custody targets $16 trillion in assets by 2030.
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Beyond custody, Ripple has taken proactive steps to strengthen its decentralized finance (DeFi) ecosystem. Furthermore, the company recently introduced a roadmap to improve functionality and accessibility for institutional DeFi on the XRP Ledger. Key features of this initiative include a permissioned decentralized exchange (DEX), a credit-based DeFi lending protocol, and a multi-purpose token (MPT). These developments will integrate existing platforms such as price oracles and automated market makers, ensuring seamless usability.
Institutional Demand for Secure Crypto Solutions Grows
As institutional demand for secure and regulatory-compliant crypto solutions increases, Ripple’s initiatives position the company as a leader in the space. By focusing on security and compliance, Ripple ensures that its custody and DeFi services meet the highest institutional standards.
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Through its partnership with BDACS and its commitment to regulatory alignment, Ripple continues to strengthen its position in the institutional crypto market.
These efforts not only enhance the security of custody services for XRP and RLUSD but also reinforce Ripple’s role in shaping the future of institutional crypto adoption.
