BDACS has launched XRP custody for Korean institutional investors, catering to the growing interest in digital assets in the country.
BDACS and Ripple Partnership
According to an announcement via BDACS's official X account, XRP has been described as one of the most popular digital assets among institutional investors in Korea. BDACS enables institutions to securely store and manage XRP holdings through Ripple's custody infrastructure. This service addresses the growing demand from Korean institutions seeking regulated exposure to digital assets.
Integration with Leading Korean Exchanges
BDACS has integrated its custody services with South Korea's leading cryptocurrency exchanges, including Upbit, Coinone, and Korbit. Institutional clients can now seamlessly deploy XRP across these platforms. All transactions occur within Korea's regulatory framework, ensuring transparency and security for institutional XRP holdings.
Crypto Adoption Rates in Korea
According to a recent report from the Hana Institute of Finance, 25% of Koreans aged 20-50 own digital assets. Cryptocurrencies represent 14% of this age group's financial portfolios on average. The data shows that participation is highest among those in their 40s at 31%, followed by those in their 30s at 28% and 50s at 25%.
With the launch of the XRP custody service, BDACS is responding to the growing interest from institutions in digital assets in Korea, which is evidenced by high crypto adoption rates among the population.
