BDACS Selects Fireblocks to Power Its Custody Offering for Institutional Clients
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BDACS, South Korea's certified and regulated custodian, has selected Fireblocks, the enterprise platform securing more than $16 trillion in digital asset transfers, to secure custody operations and stablecoin transactions for its institutional client base. BDACS holds one of a small number of digital asset custody licenses issued in South Korea and has built its business around serving institutions navigating the country's evolving regulatory environment. The company already provides custody for assets including XRP and AVAX, and supports KRW1, a tokenized representation of the Korean won. With Fireblocks, BDACS now runs custody, transfers, and stablecoin operations for institutional clients across multiple blockchains from a single policy and security layer, rather than managing separate infrastructure for each asset type or chain. The move comes as South Korea continues to work through the second phase of its Digital Asset Basic Act, with lawmakers still negotiating the ownership structure for won-pegged stablecoin issuance between the Bank of Korea and the Financial Services Commission. Fireblocks' multi-party computation (MPC) security architecture and policy engine give BDACS configurable controls over transaction approval, asset segregation, and operational governance - requirements institutional clients expect from a licensed custodian. "BDACS is building a custody...
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