Ripple President Monica Long has stated that she is "very excited" for the company's custody platform to "plan another flag" in the Asia–Pacific (APAC) region with a new partnership in South Korea.
Earlier today, the enterprise blockchain company announced a deal with BDACS, a leading digital assets custodian in the world's 12th biggest economy.
The partnership will make it possible for South Korean institutional investors to use custody services for RLUSD, XRP, and other cryptocurrencies.
The collaboration is meant to enhance the usability of Ripple's regulated RLUSD stablecoin while also providing support for the XRP Ledger ecosystem.
"The importance for secure, institutional-grade custody technology can’t be overstated, especially as enterprises prepare for an influx of crypto interest," Long said.
As reported by U.Today, Ripple acquired crypto custody provider Metaco for a total of $250,000 back in 2023.
Last October, the company launched a "bank-grade" custody functionality for cryptocurrency firms.
