One Big Thing: BDACS Anchors Korea’s First Regulated STO Marketplace
BDACS joins the KRX-led KDX Consortium as the sole Virtual Asset Service Provider (VASP). With the FSC’s preliminary approval, BDACS now provides the foundational custody infrastructure for Korea’s regulated OTC investment certificate market.
I. KDX Consortium: Institutional Custody at Scale
The FSC’s preliminary approval of the KDX Consortium officially integrates digital assets into Korea’s regulated financial framework.
- As the only VASP involved, BDACS provides the essential compliance and security infrastructure for the national STO marketplace.
- CEO Harry Ryoo highlighted this approval as a pivotal step for institutional adoption, noting that BDACS will continue to strengthen risk management for the RWA and STO sectors.
▶ Sources: Businesskorea
II. KRW1 Stablecoin: Partnership with Com2uS Holdings
BDACS and Com2uS Holdings have launched a strategic partnership to build the foundational infrastructure for the ‘KRW1’ stablecoin.
- This partnership combines BDACS’s custody expertise with Com2uS’s blockchain experience to bridge traditional finance and Web3.
- Following a successful PoC with Woori Bank, this initiative secures BDACS’s lead in Korea’s digital won infrastructure.
▶ Sources: Bitcoin world
I. Judicial Shift toward Professional Custody
The Supreme Prosecutors’ Office (SPO) has issued new protocols for managing seized crypto assets, signaling a transition toward institutionalized management.
- The SPO now favors professional third-party custody solutions over physical hardware wallets to prevent mismanagement and theft.
- This move reflects a broader national shift toward specialized, high-security asset management within the judicial system.
II. Police Agency to Outsource Crypto Evidence Custody
The National Police Agency is overhauling its evidence management system to entrust seized digital assets to professional VASP custodians.
- Police investigators will no longer manage private keys directly; instead, they will rely on specialized custodians to ensure asset integrity.
- The agency has secured the necessary budget and aims to finalize the implementation of this professional custody framework within the year.
III. Urgency for Custody-Exchange Segregation
Following a major misdistribution incident at a domestic exchange, experts are demanding the legal separation of exchange and custody functions.
- Industry leaders argue that combining brokerage and custody within a single entity creates systemic risks and hinders effective oversight.
- A growing consensus maintains that transferring custody to neutral, specialized third-party institutions is essential for market integrity and institutional trust.
