BDACS, a South Korea-based regulated crypto custodian, today began offering institutional custody services for XRP, the native token of the XRP Ledger. This launch represents the first operational outcome of BDACS’s strategic partnership with Ripple, originally announced on February 26, 2025. The service enables qualified institutions to securely deposit, withdraw, and hold XRP and RLUSD—Ripple’s U.S. dollar-denominated stablecoin—under a regulated framework that meets stringent compliance and security standards.
The custody platform integrates Ripple Custody technology, providing enterprise-grade security controls, multi-signature governance, and real-time account monitoring. BDACS has implemented a comprehensive compliance regime overseen by South Korea’s Financial Services Commission, ensuring adherence to anti-money laundering (AML), know-your-customer (KYC), and data protection regulations. Risk management protocols include cold-storage segregation, continuous threat modeling, and automated anomaly detection.
Institutional clients gain direct access to the XRP Ledger through BDACS’s settlement rails, facilitating high-speed, low-cost transfers and support for tokenized asset workflows. The service is expected to accelerate institutional adoption of XRP, as it addresses longstanding custodial and regulatory concerns. Market analysts anticipate that the availability of regulated custody will increase on-ledger liquidity and support derivative product development, such as tokenized debt and repo agreements referencing XRP.
Ripple’s Managing Director for Asia-Pacific, Fiona Murray, commented that the BDACS launch aligns with Ripple’s vision to expand institutional utility of the XRP Ledger. BDACS CEO Harry Ryoo added that the collaboration underscores Korea’s leadership in fostering compliant digital asset ecosystems and will serve as a blueprint for cross-border custody solutions. Looking ahead, BDACS plans to extend custody support to additional Ripple products and to explore integration with Woori Bank’s blockchain initiatives in Busan’s regulation-free zone, enhancing interoperability with traditional financial institutions.
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