The South Korean custodian BDACS has launched XRP custody services for institutional clients. The solution is implemented in partnership with Ripple and aims to expand regulated access to one of the country’s most popular crypto assets.
Integration With Ripple Custody
The company announced the launch through its official X page. XRP custody and management are now powered by Ripple Custody, an enterprise-grade custodial solution. BDACS presents this step as a strengthening of its partnership with Ripple and states that XRP holds a leading position among digital assets in South Korea.
Support From Local Exchanges and Regulatory Compliance
BDACS reported recent integration with the country’s top crypto exchanges: Upbit, Coinone, and Korbit. This allows institutional clients to move and use XRP on leading trading platforms in compliance with current regulations.
Ripple and BDACS began their cooperation in February 2025. At the time, they agreed on custodial services not only for XRP but also for Ripple’s U.S. dollar stablecoin, RLUSD. Ripple emphasized that the partnership aligns with South Korea’s Financial Services Commission's push for the institutionalization of digital assets. Ripple also planned to strengthen the XRP Ledger ecosystem and promote RLUSD in Busan’s blockchain regulatory sandbox.
Ripple refers to a forecast that custodial assets could reach $16 trillion by 2030, with tokenized assets accounting for up to 10% of global GDP.
Crypto Assets Are Taking a Larger Share in Korean Portfolios
According to a study by the Hana Institute of Finance, around 25% of South Koreans aged 20 to 50 own digital assets. On average, crypto makes up 14% of their total financial portfolio. The highest participation rate is among people in their 40s (31%), followed by those in their 30s and 50s.
The research also indicates growing confidence in crypto as a long-term investment tool. About 70% of respondents plan to increase their digital asset holdings, and 42% said they would be more likely to do so if traditional banks entered the sector.
Traditional Korean Banks Are Also Preparing to Enter the Crypto Market
Amid rising interest from both the public and regulators, major South Korean banks are moving toward tokenization. Kakao Bank, Kookmin Bank, and Industrial Bank of Korea have already applied to register trademarks for stablecoins pegged to the Korean won.
In the United States, the situation is developing differently. On August 5, president Donald Trump announced plans to sign an order requiring banking regulators to investigate widespread account closures targeting crypto businesses. The order would require agencies to examine whether banks are violating fair lending laws, consumer protection rules, or antitrust regulations when denying services to certain clients.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.