BDACS Launches Institutional Custody Service for XRP in South Korea

BDACS is a licensed digital asset custody platform in South Korea, and it has officially started supporting XRP—one of the most actively traded cryptocurrencies in Korea. This move is the first concrete outcome of the partnership between BDACS and Ripple, which was established in February this year.

The compliant custody of XRP is an important step in promoting institutional participation in the South Korean crypto market. BDACS also stated that it will support the stablecoin RLUSD launched by Ripple in the future.