XRP has been officially added to BDACS, a regulated custody platform serving institutional clients in South Korea.
XRP Integration on BDACS
BDACS has announced the addition of XRP, allowing licensed entities to hold and use the cryptocurrency across compliant venues. With BDACS already connected to exchanges like Upbit, Coinone, and Korbit, this will provide institutional clients with live access to XRP markets.
Impact on XRP Market in Korea
XRP commands over 19% of trading volume on Upbit, amounting to over $629 million in daily turnover, and holds a 16% share on Bithumb with a volume of $224 million. This data illustrates that XRP has a significant influence on the cryptocurrency market in Korea.
Future Prospects for Ripple and XRP
Korean institutional investors can now gain regulated exposure to XRP, changing their approach to the cryptocurrency in the country. This strengthens Ripple's position in the Korean market, making XRP more accessible for institutional clients.
The addition of XRP to the BDACS platform is an important step in enhancing institutional access to this cryptocurrency in Korea, elevating its status in the market.
