BDACS, based in South Korea, has launched official XRP custody services for institutional clients. This step marks a significant milestone in the country’s regulated crypto landscape.
XRP Custody Launch on BDACS
The regulated digital asset custody provider BDACS announced full support for XRP on its custody platform. Institutional investors in South Korea can now securely store and manage XRP in compliance with local regulations. XRP can also be utilized on major exchanges such as Upbit, Coinone, and Korbit through the BDACS platform, facilitating easier access for institutions to the crypto market.
XRP’s Growing Role in Korean Markets
XRP is becoming increasingly popular in South Korea’s crypto market, now ranking as the most traded digital coin on Upbit. This indicates a growing trust in Ripple’s technology and supports BDACS's efforts to engage more institutions. The global crypto custody market is expected to exceed $16 trillion by 2030, and the new BDACS solution may accelerate this growth by providing secure ways for institutions to access XRP.
Ripple’s Expansion Across Asia
Ripple is heavily investing in Asia, with South Korea playing a central role in its regional strategy. In Japan, Ripple's local partner, SBI Holdings, is working to add RLUSD to its SBI VC Trade platform. Additionally, Ripple has committed over $5 million to academic and technical blockchain research through its UBRI initiative, supporting institutions across South Korea, Japan, Singapore, Taiwan, and Australia.
The launch of XRP custody on BDACS opens new opportunities for institutional investors in South Korea and strengthens Ripple's presence in the region, meeting the increasing demand for safe and legal access to tokenized assets.
