On August 7, 2025, South Korea's digital asset custodian BDACS officially launched its institutional custody services for XRP. This move, a result of a strategic partnership between BDACS and Ripple Labs established in February 2025, aims to provide financial institutions with secure and regulated access to XRP. The integration of Ripple Custody, announced via BDACS's official X account, is expected to significantly improve XRP's accessibility for institutional investors in the region.
BDACS has also established connections with major South Korean cryptocurrency exchanges, including Upbit, Coinone, and Korbit. This integration allows for the compliant deployment of XRP across these leading trading platforms, aligning with the South Korean Financial Services Commission's (FSC) roadmap for institutional digital asset adoption. The FSC is reportedly working on frameworks for approving spot crypto exchange-traded funds (ETFs) in the latter half of 2025, signaling broader institutional embrace of digital assets.
As of August 7, 2025, XRP was trading at approximately $2.99. The asset experienced a trading range between a high of $3.02 and a low of $2.91, indicating dynamic market activity. Reports highlight XRP as the most traded digital asset on Upbit, with nearly $500 million in 24-hour trading volume on the exchange alone, underscoring strong institutional interest and trust in Ripple's technology within South Korea.
This expansion of institutional custody for XRP in South Korea is part of a wider trend of increasing digital asset adoption across Asia. Ripple's partnerships are designed to foster growth within the XRP Ledger ecosystem and enhance the utility of digital assets. The initiative not only strengthens XRP's market position in Korea but also serves as a potential model for other nations seeking to integrate digital assets into their financial systems securely and in a regulated manner.