South Korea's regulated digital asset custody provider, BDACS, has announced the launch of custody services for XRP aimed at institutional clients. This development enables the legal and secure storage of one of the country's most liquid crypto assets.
Launch of XRP Custody by BDACS
BDACS announced that XRP is now officially available on their platform, expressing excitement about offering custody support for XRP, one of the most popular digital assets in South Korea, to their institutional clients.
Partnership with Ripple and Exchange Integration
The company stated that this decision strengthens their long-standing partnership with Ripple and demonstrates their commitment to the South Korean market. Recently, BDACS has integrated with leading cryptocurrency exchanges in the country, such as Upbit, Coinone, and Korbit, allowing users to legally utilize XRP on these major platforms.
Significance of XRP in the South Korean Market
XRP frequently ranks first in trading volume on South Korea's largest cryptocurrency exchanges, Upbit and Bithumb, highlighting its importance and popularity among investors in the region.
The introduction of custody services for XRP by BDACS marks a significant step in the development of South Korea's cryptocurrency market, providing institutional clients with legal and secure access to one of the most sought-after digital assets.
