XRP has officially gone live on BDACS, a regulated crypto custodian for South Korean institutions, marking the first major result of Ripple’s custody partnership announced earlier this year.
In a post shared on August 5 via X, BDACS confirmed it will now offer custody support for XRP, calling it “one of the most popular digital assets in Korea.” The move comes five months after BDACS partnered with Ripple, the company behind the XRP Ledger, to expand regulated institutional access to crypto in the country.
The February partnership was part of a broader push to align with South Korea’s Financial Services Commission’s (FSC) roadmap, which aims to bring more institutional players into the digital asset space. At the time, BDACS said it would integrate Ripple Custody, a software platform designed to help institutions securely store and manage digital assets and support both XRP and RLUSD, Ripple’s upcoming stablecoin.
With custody support now live, BDACS clients can hold and deploy XRP across South Korea’s top exchanges, including Upbit, Coinone, and Korbit. In its announcement, BDACS said the launch strengthens its partnership with Ripple and reflects its commitment to supporting South Korea’s fast-evolving crypto ecosystem.
In February, Ripple’s Asia-Pacific Managing Director, Fiona Murray, described the partnership as timely, given the rising interest from institutions and shifting regulations in the region. BDACS CEO Harry Ryoo said the firm’s goal was to offer compliant, secure custody services that support blockchain-based financial infrastructure.
The partnership also hopes to attract more developers to build on the XRP Ledger and explore real-world uses for tokenization, something Ripple has been putting more focus on lately, especially with the launch of its RLUSD stablecoin.
Citing industry research, BDACS noted in February that up to 10% of global GDP could be tokenized by 2030, with digital asset custody expected to reach $16 trillion in value.
BDACS is already working with networks like Avalanche and Polymesh and is part of Busan’s blockchain regulation-free zone. With XRP now added to its custody offerings, BDACS is positioning itself at the heart of South Korea’s institutional crypto infrastructure.
