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20h ago

BDACS Launches Regulated XRP Custody for South Korean Institutions

This first deployment of Ripple Custody for XRP will pave the way for future stablecoin support, opening tokenization opportunities within South Korea’s regulated financial sector.

Ripple’s partnership with bdacs pays off as xrp support goes live at korean crypto custodian
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Xrp ramps up in korea as bdacs taps into top regulated exchanges

Overview

  • BDACS went live on August 5 with Ripple Custody for XRP, marking the first concrete deliverable of its Feb. 26 partnership with Ripple.
  • The service integrates with major local exchanges such as Upbit, Coinone and Korbit to streamline secure institutional trading and storage.
  • Support for Ripple’s dollar-denominated stablecoin RLUSD remains on BDACS’s roadmap for a subsequent rollout.
  • BDACS said the launch aligns with the Financial Services Commission’s plan to broaden institutional participation in digital assets.
  • The custodian leverages partnerships with Avalanche, Polymesh and Woori Bank and operates in Busan’s blockchain regulation-free zone to expand its infrastructure.