South Korea Embraces XRP Custody

XRP Goes Live on BDACS

In a post on social media platform X, BDACS emphasized that XRP is one of the most widely held digital assets in South Korea. By launching custody services for XRP, the company aims to provide institutions with secure, regulation-compliant access to the asset.

The custody system will be powered by Ripple Custody, Ripple’s institutional-grade asset management platform. In addition to XRP, the platform also supports RLUSD, Ripple’s enterprise-focused stablecoin.

Notably, BDACS has already integrated with South Korea’s top cryptocurrency exchanges — Upbit, Coinone, and Korbit — enabling institutions to access XRP seamlessly on the nation’s most liquid venues.

Regulatory Alignment and Innovation on the XRP Ledger

BDACS stated that its partnership with Ripple aligns with the regulatory roadmap outlined by South Korea’s Financial Services Commission (FSC), which seeks to promote institutional crypto adoption. Beyond custody, BDACS aims to drive innovation on the XRP Ledger (XRPL), with a focus on tokenization and stablecoin use cases.

This development echoes recent market research predicting that digital asset custody could manage up to $16 trillion in assets by 2030, with tokenized assets potentially accounting for 10% of global GDP.

Fiona Murray, Managing Director of Ripple for Asia-Pacific, said the partnership reflects growing institutional demand amid an evolving regulatory landscape in the region.

BDACS CEO Harry Ryoo added:

“BDACS is committed to providing secure and reliable custody services to support Ripple’s pioneering blockchain initiatives. This partnership will ultimately allow both companies to expand and enhance the digital asset ecosystem.”

In addition to XRP, BDACS is already active in Busan’s blockchain regulation-free zone and has partnered with key players like Avalanche and Polymesh.