Revolutionary XRP Custody Arrives for Korean Institutions via BDACS
Institutional investors in South Korea can now access secure **XRP custody**. This significant development comes through BDACS, a leading South Korean crypto custodian. The move marks a pivotal step for **crypto adoption South Korea**, especially for major digital assets like XRP.
BDACS Powers Institutional XRP Access
South Korean crypto custodian BDACS has launched institutional custody support for XRP. This follows a key February **Ripple partnership** agreement. The rollout, announced on BDACS’s X account, enables institutions to securely manage XRP (XRP). They utilize Ripple Custody, Ripple’s enterprise-grade solution. BDACS expressed enthusiasm for offering custody support for XRP, a popular digital asset in Korea.
Furthermore, this launch strengthens BDACS’s long-standing collaboration with Ripple. It also underscores their commitment to the Korean market. BDACS recently integrated with South Korea’s leading exchanges. These include Upbit, Coinone, and Korbit. This integration allows institutional clients to deploy XRP across top trading platforms. They can do so in a regulatory compliant manner.
XRP goes live on BDACS. Source: BDACSRipple Partnership Drives Korean Institutions Forward
Earlier this year, Ripple Labs partnered with BDACS. The goal was to offer institutional custody support for XRP and its US dollar-backed stablecoin, RLUSD. Ripple stated this deal aligned with South Korea’s regulatory roadmap. This roadmap focuses on institutional **crypto adoption South Korea**. The Financial Services Commission outlined this path. The collaboration also benefits the XRP Ledger ecosystem. It expands RLUSD use cases, especially within Busan’s blockchain regulation-free zone. Ripple cited projections that crypto custody could reach $16 trillion by 2030. Tokenized assets could account for 10% of global GDP.
Agne Linge, head of growth at WeFi, noted strong political interest in digital assets. She told Crypto News Insights that South Korean politicians want a legitimate financial infrastructure. Linge further stated that XRP has become a serious infrastructure candidate in Asia. Japan’s banks also show interest in XRP. Reports indicate 80% of Japanese banks are set to embrace XRP for global payments. This highlights XRP’s growing regional importance.
Expanding Landscape of Korean Crypto Investment
A recent report from the Hana Institute of Finance revealed significant crypto ownership. One in four South Koreans, aged 20s to 50s, own digital assets. Crypto makes up 14% of their financial portfolios. The highest participation rate was among people in their 40s at 31%. Those in their 30s and 50s followed closely. The study also showed increasing confidence in crypto as a wealth-building tool. This is especially true for retirement planning among older investors. While 70% of respondents plan to increase crypto exposure, 42% expressed a key condition. They would be more inclined if traditional banks played a larger role in the sector. This indicates a desire for more mainstream integration.
The crypto market’s growth in South Korea extends to traditional finance. At least three local banks have filed for Korean won stablecoin trademarks. These include Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea. This demonstrates a clear trend towards broader digital asset engagement. The availability of secure **XRP custody** via **BDACS** will further fuel this institutional interest. It provides a regulated pathway for significant investment.
