XRP Custody Goes Live in South Korea Through Ripple and BDACS Partnership
Highlights:
- XRP custody goes live in South Korea through the Ripple and BDACS partnership.
- BDACS enables secure XRP storage for Korean institutions and exchanges.
- Ripple Custody platform supports both XRP and RLUSD for institutional asset management.
BDACS has partnered with Ripple to launch XRP custody in South Korea. The move provides safe custody of digital assets by institutions. On August 5, BDACS announced the rollout through a social media post stating that “XRP is one of the most popular assets in Korea.”
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The partnership commenced in February as an effort to comply with new regulations. Moreover, it also aligns with the roadmap to provide access to institutional crypto by the Financial Services Commission. The software is powered by the Ripple Custody platform to support not only XRP but also the RLUSD stablecoin. Fiona Murray, Ripple Asia-Pacific director, noted that such collaboration was timely. She referred to an increased institutional interest and changing regulations in South Korea. Harry Ryoo, CEO of BDACS, also stated that the aim was to provide secure and compliant custody.
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
XRP Custody Now Live Across Korean Exchanges
With XRP custody going live, institutions will be able to deploy XRP on the largest exchanges in Korea. BDACS mentioned integrations with Upbit, Coinone, and Korbit. Consequently, this provides the institutional customers with regulated and smooth access to the high-liquidity venues.
The launch is part of the broader initiative by Ripple and BDACS to bring their innovation to blockchain. Ripple’s custody platform provides tools for managing assets on an enterprise level. BDACS noted that it also aims to drive evolution on the XRP Ledger in its mission. These companies seek to increase real-world applications such as tokenization and stablecoin usage. The February statement suggested that global GDP could increase by as much as 10% by 2030. Ripple and BDACS plan to spearhead that initiative in the South Korean digital finance market.
Today, we are partnering with BDACS to expand institutional crypto custody in South Korea: https://t.co/DhgeumFCn8@BDACSKorea will use Ripple Custody to provide secure infrastructure for XRP, RLUSD, and other crypto assets—supporting institutional adoption, XRPL developer…
— Ripple (@Ripple) February 27, 2025
Ripple and BDACS believe that this move addresses a very important market need. They will concentrate on regulation and infrastructure to be able to sustain the fast-growing South Korean ecosystem. In Harry Ryoo’s words, “This partnership will enable both companies to expand the digital asset ecosystem.” BDACS already collaborates with networks such as Avalanche and Polymesh. It runs in the Busan blockchain-free economic zone. These initiatives reflect its continued attempts to develop compliant crypto infrastructure across the country.
In addition, Ripple stated that the introduction of secure XRP custody might lead to broader use. The platform’s roadmap also includes RLUSD, its stablecoin, which is backed by a dollar. Collectively, the firms are working on putting in more secure storage to address the rising demand.
South Korea’s Crypto Growth and Regulatory Shift
The launch of XRP custody coincides with the growing South Korean crypto market. By the end of 2024, the Bank of Korea stated that there were more than 15.59 million domestic crypto investors. This represented over 30% of the 51 million population of the country. This has fueled increased demand for compliant services such as those offered by BDACS. The digital asset strategy of the Korean government aims to boost institutional participation. BDACS is establishing itself as a major player in that transition.
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Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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