News COINTELEGRAPH IN YOUR SOCIAL FEEDannounced on Feb. 26, will enable BDACS to integrate Ripple Custody, the company’s institutional crypto and digital asset custody solution, to safeguard XRP (XRP), Ripple USD (RLUSD) and other crypto assets for financial institutions in South Korea.

Source: Ripple

Ripple president Monica Long highlighted the importance of institutional-grade custody amid growing enterprise interest in crypto.

“South Korea is gearing up for a wave of institutional crypto adoption — very excited for Ripple Custody to plant another flag in APAC with BDACS for XRP and RLUSD,” Long said in a statement.

Ripple aligns with South Korean regulatory requirement

According to Ripple, the partnership aligns with the roadmap for regulatory approval of institutional participation set by South Korea’s Financial Services Commission (FSC). The company stated:

“This partnership will support the growth of XRPL

Keep reading this article on Cointelegraph.com.

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