XRP Gains Traction in South Korea as BDACS Integrates Complete Support for Ripple
In a significant move for the cryptocurrency industry, South Korean regulated digital-asset custodian BDACS has launched an enterprise-grade institutional XRP custody service. This development follows a partnership with Ripple, announced earlier this year, which aims to boost institutional adoption of blockchain solutions in South Korea.
The XRP custody service went live on August 5, 2025, providing Korean institutions with a regulated path to store, manage, and trade XRP efficiently. With this launch, XRP (and Ripple’s RLUSD stablecoin) is now available to institutional investors via Ripple Custody and integrated with major local exchanges such as Upbit, Coinone, and Korbit.
BDACS' decision to support XRP aligns with South Korea's Financial Services Commission (FSC) roadmap for growing institutional participation in digital assets while maintaining regulatory oversight. The company's mission, as stated by CEO Harry Ryoo, is to deliver compliant and secure services for institutions, supporting Ripple’s expanding blockchain efforts.
BDACS has been actively working with Avalanche, Polymesh, and Woori Bank, and plays a role in blockchain projects based in Busan's regulation-free zone. The partnership between Ripple and BDACS does not involve advertisements but hints at future support for RLUSD, Ripple's stablecoin pegged to the U.S. dollar.
The launch of the XRP custody service by BDACS is expected to increase institutional confidence, liquidity, and on-ramp access for XRP in a market where XRP is already a commonly traded token. This move is seen as a positive step towards Ripple's broader Asia-Pacific expansion strategy.
At the time of writing, XRP trades at $2.97, down 3.4% over the last 24 hours. The new XRP custody service by BDACS aligns with Korea's push for institutional crypto adoption, potentially paving the way for increased adoption and growth in the South Korean cryptocurrency market.
However, concrete figures on uptake, such as institutional assets under management (AUM), the number of institutional clients onboarded, or trading volumes attributable specifically to BDACS custody, have not been published in the cited reports. The long-term impact of this development will depend on continued regulatory clarity, demand from Korean financial institutions, and operational uptake by exchanges and custodial clients.
As we move forward, it will be interesting to monitor the progress of this XRP custody service by BDACS and its impact on the South Korean cryptocurrency market. Further reports may provide insights into adoption metrics, comparisons with other regional custodians and custody models, and the overall performance of this service.
- The launch of BDACS' XRP custody service, backed by Ripple, allows Korean institutions to store, manage, and trade XRP in a regulated environment, potentially increasing institutional confidence and liquidity in the cryptocurrency market.
- South Korea's Financial Services Commission's roadmap for digital asset growth and BDACS' mission to deliver compliant and secure services for institutions align with Ripple's efforts to expand blockchain solutions.
- The XRP custody service, integrated with major local exchanges like Upbit, Coinone, and Korbit, and potential future support for Ripple's stablecoin, RLUSD, may pave the way for increased adoption and growth in the South Korean cryptocurrency market.
