XRP Custody Korea has been officially launched, with BDACS responsible for providing institutional custody services for Ripple's digital asset.
Introduction of XRP Custody in Korea
XRP Custody Korea is officially announced, with BDACS in charge of providing institutional custody services for Ripple’s digital asset. This aligns with the roadmap of South Korea’s Financial Services Commission, which seeks greater regulated exposure for digital currencies among accredited organizations in the area.
Market and Technical Analysis of XRP
The current price of XRP hovers around $2.95, which is approximately 2-3% down from where it was yesterday. Technical analysis indicates that XRP has recently broken out of a downtrending channel and is moving above the 20-day EMA, testing resistance at $3.03.
Prospects for Institutional XRP Custody
The collaboration with BDACS allows Ripple to provide secure XRP storage and supports developers building on the XRP Ledger. This also implies an increase in use cases for cross-border payments and tokenization.
The launch of institutional XRP custody in South Korea opens new opportunities for the use of digital assets and strengthens the financial infrastructure in the region.
