Breaking: BDACS Launches First FSA-Approved XRP Custody in South Korea – Institutional Adoption Heats Up

South Korea's crypto landscape just got a major credibility boost. BDACS—the digital asset arm of heavyweight Bithumb—has rolled out fully regulated XRP custody services, greenlit by the Financial Services Agency (FSA).

Why it matters: With Ripple’s legal battles fading, institutional players now get a compliant vault for one of crypto’s most liquid assets. No more self-custody nightmares or regulatory side-eye.

The fine print: BDACS isn’t messing around. Cold storage? Check. Insurance-backed? Of course. Real-time audit trails? Naturally. They’ve even baked in anti-money laundering (AML) protocols tighter than a traditional bank’s—ironic, given how banks still treat crypto like a dirty word.

Bottom line: This isn’t just about safekeeping XRP. It’s a calculated move to lure hedge funds and family offices into Korea’s crypto ecosystem—while Wall Street drags its feet on custody solutions. Game recognize game.

XRP Gains Traction in South Korea

XRP remains the master of South Korea’s crypto market, being one of the most-traded assets on major exchanges. On Upbit, it accounts for more than 19% of trading volume (approximately $671 million per day). On Bithumb, it accounts for 16% with approximately $242 million per day in trades.

This action indicates the increasing collaboration between Ripple (the entity that owns XRP) and Korean institutions. Ripple is now better positioned to extend its operations in Korea more seamlessly, leveraging existing infrastructure rather than creating new ones.

The addition of XRP in BDACS is a large step for XRP and Ripple in South Korea. It makes institutional adoption of XRP more viable and regulated, solidifying its stronghold in the nation’s crypto market.

Also Read: XRP Dominates Trading Volume on South Korea’s Upbit