XRP has officially launched on BDACS, a regulated crypto custody platform in South Korea that serves institutional clients. This marks the first result of Ripple’s partnership with BDACS, announced earlier this year.
The launch allows institutions to securely hold XRP, one of Korea’s most actively traded digital assets, while meeting the country’s strict regulatory standards.
BDACS confirmed the rollout in an August 5 post, highlighting support for both XRP and Ripple’s stablecoin RLUSD. Clients can now store and use XRP across top Korean exchanges like Upbit, Coinone, and Korbit in a fully compliant way.
The move follows the Financial Services Commission’s updated guidelines that aim to expand institutional involvement in digital assets.
This partnership gives Ripple a stronger foothold in Asia. BDACS is using Ripple Custody, a secure infrastructure that lets institutions manage digital assets with bank-level safety.
With regulatory licenses in over 60 jurisdictions, Ripple brings the compliance tools needed to support South Korea’s growing digital finance sector.
Also Read: Ripple Moves Closer to Banking Status with New Trust Charter Bid
Ripple and BDACS Expand Their Role in Digital Asset Growth
For Ripple, the deal is part of a larger effort to support enterprise adoption of its blockchain products. BDACS, led by CEO Harry Ryoo, has been expanding fast in Korea’s digital asset space.
In recent months, it teamed up with Woori Bank and formed ties with major protocols like Avalanche and Polymesh to explore tokenized securities and real-world asset digitization.
Source: BDACS
With support now in place for both XRP and RLUSD, BDACS gives institutional investors the ability to explore tokenization, payments, and stablecoin use cases under local regulations. RLUSD, Ripple’s USD-backed stablecoin, is built to serve enterprises looking for reliability, trust, and legal clarity.
The new partnership supports developers building on the XRP Ledger and contributes to Ripple’s long-term plan to grow its presence in the Asia-Pacific region.
Price Holds Steady Despite Major Development
While the custody launch is a major step for XRP’s adoption, its price hasn’t moved much. Currently at $2.93, the token is sitting just below a crucial support level of $2.96. According to crypto trader CasiTrades, this level marks a key zone that could shape XRP’s next move.
Source: X
The $2.96 price aligns with the .382 Fibonacci retracement level. Holding this zone could signal that the recent dip is just a normal pullback in a larger uptrend.
Technical indicators show early signs of strength, with the RSI showing a possible bullish divergence. For now, the market is watching closely, waiting to see if the token can stay above the line.
Also Read: XRP Struggles at $2.96: Can It Bounce Back or Face Deeper Declines?
