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BDACS, a licensed crypto custodian catering to South Korea\u2019s institutional market, has announced support for XRP.<\/p>\n
The latest launch represents the first concrete result of their collaboration, which was originally unveiled in February 2024.<\/p>\n
In its tweet, BDACS stated<\/a> that XRP is among the most widely held digital assets in South Korea, and the new custody support opens the door for institutions to engage with it in a secure, compliant manner. Ripple\u2019s Ripple Custody platform, specifically designed for institutional-grade asset management, will underpin the storage and management of both XRP and Ripple\u2019s enterprise-focused stablecoin, RLUSD.<\/p>\n The development also follows BDACS\u2019s integrations with Korea\u2019s top crypto exchanges, Upbit, Coinone, and Korbit, which give institutions seamless access to the crypto asset across the country\u2019s most liquid venues.<\/p>\n The custodian had previously said that its collaboration with Ripple aligns with South Korea\u2019s regulatory roadmap for digital assets, as outlined by the Financial Services Commission, which aims to accelerate institutional adoption. BDACS noted that its mission is not only to provide custody services but also to boost innovation on the XRP Ledger (XRPL), particularly in tokenization and stablecoin use cases.<\/p>\n The move echoes market research, which predicted that crypto custody could manage up to $16 trillion in assets by 2030, with tokenized assets accounting for 10% of global GDP. Ripple\u2019s Asia-Pacific managing director, Fiona Murray, said the partnership was indicative of a growing institutional demand amid shifting regulations in the region.<\/p>\n Meanwhile, BDACS CEO Harry Ryoo had commented,<\/p>\n \u201cBDACS will provide a secure and reliable custody service to support Ripple\u2019s pioneering blockchain initiatives. Ultimately, this partnership will enable both companies to enhance and expand the digital asset ecosystem.\u201d<\/p>\n<\/blockquote>\n Besides XRP, BDACS is already active in Busan\u2019s blockchain regulation-free zone and has partnered with players like Avalanche and Polymesh.<\/p>\n As institutional infrastructure expands, XRP\u2019s market performance has captured global attention. The asset recently surged over $3.6, and hit a new all-time high after a 500% rally since the US elections. However, a new USA Today article praising<\/a> XRP\u2019s utility and regulatory outlook has raised concerns. Historically, glowing mainstream coverage, especially from outlets like The Motley Fool, which influenced the article, has coincided with market tops.<\/p>\n The article controversially calls XRP a former \u201cmeme coin,\u201d a mischaracterization that stirred significant backlash. While media sentiment doesn\u2019t always dictate price trends, such enthusiastic coverage has often preceded corrections. Given this pattern, some market watchers view the positive press as a potential top signal for the token in 2025.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
\u201cMeme Coin\u201d Label in USA Today Sparks Backlash<\/h2>\n
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