Overview
- BDACS activated XRP custody on August 5, offering regulated institutions secure access through Ripple Custody in compliance with the Financial Services Commission roadmap.
- The service links directly to major Korean exchanges Upbit, Coinone and Korbit to enable institutional clients to store and trade XRP under local regulations.
- This launch represents the first concrete implementation of the February partnership between BDACS and Ripple, which also envisions support for the RLUSD stablecoin.
- Analysts identify $2.96 as a critical Fibonacci retracement level for XRP and note RSI readings that hint at a potential bullish divergence defending that support zone.
- Observers view the custody rollout as evidence of rising institutional demand in South Korea’s active crypto market and a broader push toward digital asset tokenization.