BDACS Launches Institutional XRP Custody Following Ripple Partnership

South Korean crypto custodian BDACS has announced the launch of dedicated Institutional Custody Support for XRP, strengthening its February partnership agreement with Ripple (XRP). The move enhances regulated access to XRP for institutional investors.

Institutional clients can now securely store and manage XRP assets through “Ripple Custody”, Ripple’s enterprise-grade custody solution, as announced via BDACS’s X account.

“We’re thrilled to offer custody support for XRP, one of the most popular digital assets in Korea, to our institutional clients,” BDACS stated, adding that this launch reinforces their partnership with Ripple and commitment to the Korean market.
“This launch strengthens our long-standing partnership with Ripple and underscores our commitment to the Korean market.”

Further integration with leading South Korean exchanges such as Upbit, Coinone, and Korbit allows institutional clients to utilize XRP across the country’s top trading platforms in a manner that underscores regulatory compliance.

Ripple Pledges Vision for Institutional Crypto Adoption

Following the BDACS partnership announcement earlier this year, Ripple Labs (XRP) emphasized the project’s alignment with South Korea’s regulatory roadmap for institutional crypto adoption, as outlined by the Financial Services Commission.

Ripple highlighted that the collaboration would benefit the XRP Ledger ecosystem and expand use cases for its US dollar-pegged stablecoin, RLUSD, especially within Busan’s blockchain regulation-free zone.

Ripple underscored projections forecasting that the global crypto custody market could reach $16 trillion by 2030, with tokenized assets potentially accounting for 10% of global GDP.

“South Korean politicians have been demonstrating strong interest in making the digital asset ecosystem a legitimate part of the financial infrastructure,” observed Agne Linge, head of growth at WeFi, a decentralized onchain bank.

Linge noted XRP’s increasing position as an infrastructure candidate in Asia, referencing similar interest from Japanese banks, where reports indicate 80% plan to integrate XRP for international payments.

High Crypto Adoption Rates in South Korea

Recent data from the Hana Institute of Finance reveals significant cryptocurrency adoption across South Korea, with one in four people aged 20–50 owning digital assets. Overall, crypto accounts for 14% of personal financial portfolios in this demographic.

The highest adoption was reported among 40-year-olds, with 31% holding assets, closely followed by other age groups. Greater investor confidence is noted, particularly among older demographics for utilization as retirement planning tools.

Notably, 70% of surveyed individuals plan to increase their crypto exposure. However, 42% expressed greater willingness should traditional banks play a more active role in supporting the sector.

The increasing mainstream integration extends beyond retail: three major Korean banks (Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea) have filed trademark applications for local won stablecoins.