Why custody Is Trending Today?

Africa's financial landscape has seen a decrease in market depth and liquidity, as indicated by the latest Absa Africa Index. Meanwhile, in the cryptocurrency sphere, Ripple has been making strides in Africa, partnering with Absa Bank to launch secure, bank-grade crypto custody services. This strategic partnership aims to expand Ripple's global crypto custody network to the African continent. Additionally, the XRP price has been bullish, with analysts eyeing a $3 recovery as the SEC ETF ruling approaches, further boosted by Ripple's recent deal with Absa Bank. In other news, Montreal Mayor Valérie Plante will participate in the opening of the annual conference of the North American Bitcoin Conference (NABC) in Montreal.

BDACS, a South Korean regulatory compliant custody provider, has launched institutional XRP custody services, granting XRP access to major exchanges and unlocking explosive growth in the Korean market. Ripple, the company behind XRP, has partnered with BDACS to support RLUSD, a stablecoin pegged to the South Korean won. This move comes amidst strong interest from Korean institutions and a retail boom in the country. The XRP custody services, now live, aim to provide secure and compliant storage solutions for Korean institutions, potentially driving XRP's price and institutional adoption in the region.