XRP custody goes live for Korean institutions via BDACS amid ‘strong interest’

Key Points

1. BDACS announced institutional custody support for XRP, enabling secure storage and management using Ripple Custody.

2. The partnership aligns with South Korea’s regulatory roadmap for institutional crypto adoption, as outlined by the Financial Services Commission.

3. Ripple cited projections that crypto custody could reach $16 trillion by 2030, with tokenized assets potentially accounting for 10% of global GDP.

4. XRP is gaining traction in Asia, with reports indicating 80% of Japanese banks are set to adopt it for global payments.

5. Over 25% of South Koreans aged 20–50 hold crypto, with significant interest in crypto as a retirement planning tool.