Korean Institutions Leap into Crypto: XRP Now Available via Regulated Custody

South Korea's financial heavyweights just got a new toy—XRP wrapped in regulatory approval.

Breaking the institutional barrier

A Seoul-based custody platform—greenlit by the FSA—just flipped the switch for banks and asset managers to hold Ripple’s darling asset without regulatory side-eye. No more OTC desk roulette or paper-shuffling through gray-market channels.

Why this matters

This isn’t just about adding another crypto to the menu. It’s a backdoor for traditional finance to start playing with digital assets while keeping compliance officers happy. Watch for pension funds and securities firms to test the waters—slowly, of course. They’ll probably wait for three more approvals and a 20% dip before jumping in.

The irony? The same institutions that once called crypto a ‘fraud’ now need it to stay relevant. Finance moves fast—except when it doesn’t.

TLDR

• BDACS, a South Korean crypto custodian, launched institutional XRP custody services on August 5, 2025
• The launch follows a February 2025 partnership between BDACS and Ripple Labs
• BDACS has integrated with major Korean exchanges including Upbit, Coinone, and Korbit for regulatory compliance
• XRP is described as one of the most popular digital assets in South Korea
• Over 25% of Koreans aged 20-50 hold cryptocurrency, with crypto making up 14% of their financial portfolios

BDACS, South Korea’s regulated crypto custodian, officially launched institutional custody support for XRP on August 5, 2025. The rollout marks the first concrete outcome of the partnership between BDACS and Ripple Labs announced in February 2025.

The launch provides Korean institutions with regulated access to XRP through BDACS’s custody platform. BDACS described XRP as “one of the most popular digital assets in Korea” in their announcement post on X.

XRP is now live on BDACS!

We’re thrilled to offer custody support for #XRP, one of the most popular digital assets in #Korea, to our institutional clients. This launch strengthens our long-standing partnership with #Ripple and underscores our commitment to the Korean market.… pic.twitter.com/j8IKSBr7W7

— BDACS (@BDACSKorea) August 5, 2025

The custody service uses Ripple Custody, an enterprise-grade software platform designed for institutions to securely store and manage digital assets. This integration allows institutional clients to access XRP through a regulated framework in South Korea.

BDACS has recently integrated with South Korea’s leading cryptocurrency exchanges, including Upbit, Coinone, and Korbit. This integration enables institutional clients to deploy XRP across the country’s top trading platforms in a regulatory compliant manner.

The February partnership between Ripple and BDACS was designed to align with South Korea’s Financial Services Commission roadmap. The roadmap seeks to expand institutional participation in the country’s digital asset market.

Partnership Details and Future Plans

The original partnership announcement included plans to support both XRP and RLUSD, Ripple’s US dollar-denominated stablecoin. RLUSD is backed by dollar reserves and targeted at enterprise and financial institutions.

At the time of the February announcement, BDACS cited research projecting that crypto custody could reach $16 trillion in assets by 2030. The firm also referenced projections that 10% of global GDP could be tokenized by then.

Fiona Murray, Ripple’s managing director for the Asia-Pacific region, said the collaboration came during a period of rising market activity in South Korea. She also pointed to evolving regulatory conditions in the country as a factor in the partnership.

BDACS CEO Harry Ryoo stated that the firm aimed to provide secure and compliant custody services. The goal was to support Ripple’s blockchain initiatives within South Korea’s regulatory framework.

South Korean Crypto Market Context

Recent data from the Hana Institute of Finance revealed that one in four South Koreans in their 20s to 50s own digital assets. Cryptocurrency makes up 14% of their financial portfolios on average.

The study showed the highest participation rate was among people in their 40s at 31%. This was followed by those in their 30s and 50s age groups.

The research also indicated increasing confidence in cryptocurrency as a wealth-building tool for retirement planning. This trend was particularly strong among older investors in the survey.

Technical Background

XRP serves as the native token of the XRP Ledger, a LAYER 1 blockchain. The network is designed for low-cost, scalable transfers of digital and tokenized assets.

BDACS has established partnerships beyond Ripple, including collaborations with Avalanche and Polymesh. The firm also works with Woori Bank and participates in projects within Busan’s blockchain regulation-free zone.

As of August 6, 2025, XRP was trading at $2.97, down 3.4% in the past 24 hours according to CoinDesk Data.