South Korean crypto custodian BDACS has officially rolled out institutional custody services for XRP, following its earlier partnership with Ripple in February. The move provides regulated entities with secure access to one of the world’s most actively traded cryptocurrencies, deepening Ripple’s footprint in the Korean market.
Announced on Tuesday via BDACS’s official X account, the rollout leverages Ripple Custody — an enterprise-grade custody solution designed to help institutions securely store and manage XRP holdings.
XRP is now live on BDACS!
We’re thrilled to offer custody support for #XRP, one of the most popular digital assets in #Korea, to our institutional clients. This launch strengthens our long-standing partnership with #Ripple and underscores our commitment to the Korean market.… pic.twitter.com/j8IKSBr7W7
— BDACS (@BDACSKorea) August 5, 2025
“We’re thrilled to offer custody support for XRP, one of the most popular digital assets in Korea, to our institutional clients,” BDACS stated, emphasizing that the development further cements its collaboration with Ripple while reaffirming its commitment to the Korean blockchain ecosystem.
As part of the expansion, BDACS has also integrated with top domestic crypto exchanges, including Upbit, Coinone, and Korbit. This integration allows institutions to deploy XRP across major trading platforms in a manner that complies with South Korea’s evolving regulatory framework.
The move is the latest milestone in BDACS and Ripple’s broader strategic alliance, which also includes support for Ripple’s U.S. dollar–backed stablecoin, RLUSD. Ripple previously noted that the partnership aligns with South Korea’s crypto regulatory roadmap and supports the development of the XRP Ledger, particularly in Busan’s blockchain regulation-free zone.
Citing forecasts that global crypto custody could surpass $16 trillion by 2030, Ripple has highlighted South Korea as a high-potential market. A recent report from the Hana Institute of Finance backs that outlook, revealing that 25% of South Koreans aged 20–50 own digital assets, with crypto making up 14% of their financial portfolios.
Notably, interest in digital assets is highest among Koreans in their 40s, followed by those in their 30s and 50s. The study also pointed to growing trust in crypto as a long-term investment strategy, especially for retirement planning. Around 70% of participants expressed intentions to increase their crypto exposure — and 42% said they’d be more likely to do so if traditional financial institutions played a larger role in the market.
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