BDACS starts offering secure XRP storage for institutions through Ripple Custody in South Korea.
- Institutions in Korea can now securely store XRP using Ripple Custody.
- Integration with major Korean exchanges enables regulated access.
- The move supports growing demand for crypto investment in Asia.
BDACS Offers XRP Custody for Institutions
South Korean firm BDACS has started offering custody services for XRP, targeting institutional clients. This follows a partnership agreement with Ripple announced in February. The service uses Ripple Custody, a secure system to store digital assets. BDACS made the announcement on its official X (Twitter) account.
The launch allows companies and financial institutions to hold XRP in a safe and regulated way. BDACS said this will strengthen its presence in Korea and deepen its work with Ripple.
Partnership with Ripple Enhances Crypto Access
Ripple and BDACS agreed earlier this year to expand crypto access in South Korea. The move supports the country’s plans to build a stronger digital asset industry. The new service also fits into Ripple’s goals to promote XRP use across Asia, especially in the Busan blockchain regulation-free zone.
Through this partnership, BDACS connects with major Korean exchanges like Upbit, Coinone, and Korbit. This lets institutional clients buy, sell, and manage XRP easily across trusted platforms.
Crypto Investing Trends in South Korea
Interest in digital assets is growing in South Korea. A recent report found that over 25% of people aged 20 to 50 own crypto. Of them, 31% were in their 40s, the most active age group. Many investors said they would increase crypto investments if banks joined the sector more directly.
Local banks like Kakao Bank and Kookmin Bank have started exploring crypto tools like Korean won–based stablecoins. These developments show a rising trend toward mainstream crypto adoption.
Ripple Sees XRP Gaining Ground in Asia
Ripple believes its asset XRP is becoming a solid option for financial services in Asia. Reports suggest that 80% of banks in Japan are looking to use XRP for international payments. Experts say that platforms like Ripple Custody help bring more trust and security to the market, which is key for institutions.
Source: cointelegraph.com