BDACS, a South Korean crypto custodian, in collaboration with Ripple Labs launched institutional XRP custody support, broadening crypto access for Korean institutions.
Launch of Institutional XRP Custody
On August 5, 2025, BDACS officially launched institutional custody support for XRP in partnership with Ripple Labs. This initiative aims to expand regulated access to cryptocurrency for Korean institutions. 'We’re thrilled to offer custody support for XRP, one of the most popular digital assets in Korea, to our institutional clients. This launch strengthens our long-standing partnership with Ripple and underscores our commitment to the Korean market.' (CITE_W_A)
Institutional Interest in Korean XRP
BDACS's launch expands access to XRP for institutions, directly integrating with Korean exchanges like Upbit. Ripple's collaboration aligns with ongoing regulatory trends, providing institutions with new opportunities to engage in XRP trading that appeal to market participants.
Response to Regulatory Changes in Korea
The initiative reflects the Korean Financial Services Commission's strategy to broaden institutional crypto involvement. BDACS and Ripple affirm compliance with Korea's crypto regulatory framework. The partnership is expected to heighten institutional crypto asset presence, enhancing liquidity across regulated venues in South Korea.
The launch of institutional XRP custody by BDACS and Ripple represents a significant milestone, highlighting the increasing interest and regulatory support that could contribute to the sustainable development of crypto investments in the country.
