- XRP is now supported by BDACS, enabling compliant institutional access to major Korean exchanges like Upbit, Coinone, and Korbit.
- Ripple’s February partnership with BDACS aligns with South Korea’s roadmap for institutional crypto participation.
- South Korea’s Financial Services Commission has submitted a roadmap targeting the launch of spot crypto ETFs in the second half of 2025.
XRP has gone live on BDACS, a regulated crypto custodian in South Korea, following Ripple’s partnership with the firm in February.
The launch enables institutions to securely store and manage XRP using Ripple Custody, marking a significant step in the adoption of regulated crypto infrastructure in the country.
XRP Live on BDACS
In a post on X on Wednesday, South Korea’s BDACS said it was thrilled to offer custody support for XRP, one of the “most popular digital assets in Korea.”
“This launch strengthens our long-standing partnership with #Ripple and underscores our commitment to the Korean market,” it wrote.
BDACS noted that it had recently integrated with leading crypto exchanges in South Korea, including Upbit, Coinone, and Korbit.
“…clients can now deploy XRP across the largest trading venues in Korea in a regulatory compliant way,” it wrote.
Ripple Partners With BDACS
Ripple Labs partnered with BDACS in February to provide custody support for XRP and its stablecoin RLUSD.
At the time, Ripple President Monica Long said South Korea was preparing for a “wave of institutional crypto adoption.”
Ripple stated that the partnership aligns with the roadmap of South Korea’s Financial Services Commission for regulatory approval of institutional participation.
“This partnership will support the growth of XRPL developers and its ecosystem, expand the usability of Ripple’s stablecoin, and leverage synergies with Busan, Korea’s blockchain regulation-free zone,” Ripple said.
South Korea ETFs Closing In
In June, South Korea’s Financial Services Commission submitted a roadmap for approving crypto ETFs to the Presidential Committee on Policy Planning.
The roadmap reportedly outlines a strategy to launch spot ETFs backed by digital assets, targeting rollout in the second half of 2025.
“We plan to establish the basis for introduction and build related infrastructure such as establishment, consignment, operation, and evaluation, as well as investor protection devices,” the FSC said in a statement.
South Korea is one of the world’s most active crypto trading markets, though it has only recently begun to pursue pro-crypto regulation.
Under President Lee Jae Myung’s administration, the ETF roadmap is part of a broader pivot toward crypto-friendliness, which also includes proposed regulations for stablecoins, exchange disclosures, and investor protections.
