BDACS
BDACS is a South Korea-based institutional digital asset custody provider serving Korean banks, government agencies, gaming firms, and blockchain foundations with VASP-licensed custody, a KRW1 stablecoin, and a Prime Custody managed-service platform.
- Company typePrivate
- Founded2022
- HeadquartersSeoul, South Korea
- Headcount51–100
- GTM typeB2B
- OfferingServices
What BDACS does
BDACS (Beyond Digital Asset Custody Service) is a South Korea-based institutional digital asset custody provider founded in January 2022 and headquartered in Gangnam-gu, Seoul. The company serves Korean institutional clients — including Woori Bank, government agencies such as the National Tax Service and prosecution services, gaming firms like Com2uS and Wemade, and blockchain foundations — by providing regulated custody infrastructure under Korea's Virtual Asset Service Provider (VASP) framework. BDACS holds a VASP license (issued September 2024), two consecutive years of ISMS certification, and SOC 1 Type 2 attestation from KPMG (April 2026), and commands approximately 26.7% of the Korean digital asset custody market with 800 billion KRW in assets under custody.
The platform is built on a multi-party computation (MPC) key-management architecture combined with GK8's institutional-grade cold storage. Beyond core custody, BDACS launched the Prime Custody Solution in September 2025 to offer managed custody operations for banks and corporates, and the KRW1 stablecoin in September 2025 to provide Korean won-pegged digital settlement. Cross-chain coverage spans Avalanche, Polygon, Ripple/XRP, and Circle's Arc infrastructure, with AML and transaction monitoring handled through partnerships with Elliptic and Certik. The company has also formed a Vietnam joint venture with IDGX (September 2025) as its first cross-border expansion.
BDACS generates revenue through three primary streams: recurring custody fees tied to AUC and per-transaction charges, stablecoin infrastructure transaction fees from KRW1, and managed-service fees from the Prime Custody platform. Distribution is anchored by Woori Bank's strategic equity investment (December 2024), supplemented by partnerships with Galaxy Digital, Circle, and Ripple that provide international credibility and cross-network reach.
BDACS firmographics
Firmographics- Name
- BDACS
- Legal name
- 비댁스 주식회사
- Website
- https://bdacs.co.kr
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- BDACS is a South Korea-based institutional digital asset custody provider serving Korean banks, government agencies, gaming firms, and blockchain foundations with VASP-licensed custody, a KRW1 stablecoin, and a Prime Custody managed-service platform.
- Ownership category
- akta.pro rank
BDACS industry classification
Industry- Product category
- Digital Asset Custody
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Digital Asset Custody (Institutional Crypto Custody) (FSAFAHAH)
- akta.pro secondary industries
- Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Reserve Management, Custody & Segregated Accounts (Backing Infrastructure) (FSADADAD), RWA Custody, Escrow & Collateral Management (FSADAEAO)
Keywords
Where BDACS is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
BDACS business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others, Infrastructure
Revenue model
- Digital Asset Custody Fees: Fees charged for digital asset custody services provided to institutional investors and corporate clients. Based on assets under custody (AUC) model, with charges assessed per transaction (deposits, withdrawals, transfers). Scale of AUC 800 billion KRW represents the customer base generating custody fee revenue.
- Stablecoin Infrastructure Services: Revenue from KRW1 stablecoin infrastructure including issuance, management, and integration services. PoC completed September 2025, with commercial launch planned post Digital Asset Basic Act passage.
- Prime Custody Platform Services: Integrated services including staking, escrow, lending, and trade support (OES) for institutional clients accessing CeFi, OTC, and DeFi markets through BDACS infrastructure.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Institutional-grade custody services for banks, asset managers, and corporate clients |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
BDACS product offering
Product offeringCore offering
BDACS provides institutional-grade digital asset custody services for Korean banks, asset managers, securities firms, corporations, and government agencies, supporting 400+ digital assets, STOs, and RWAs through MPC hot wallets and air-gapped cold storage. The company also operates the Prime Custody Solution, an integrated platform combining custody, staking, escrow, lending, and trade support, and issues KRW1, Korea's first 100% KRW-collateralized stablecoin deployed across multiple blockchains. Services are delivered exclusively on a B2B basis with quote-based engagement and AUC-linked subscription pricing.
Product overview
BDACS operates a unified digital asset infrastructure platform combining institutional custody services with a proprietary KRW stablecoin. The core offering is the BDACS Digital Asset Custody Service, an enterprise-grade custody solution supporting 400+ digital assets, STOs, and RWAs with MPC wallets and cold storage. This is complemented by the Prime Custody Solution, which extends beyond basic custody to integrate staking, escrow, lending, and trading support services for institutional clients. The KRW1 Stablecoin, BDACS's 100% KRW-backed stablecoin, serves as the payment and settlement layer within this ecosystem, enabling real-time cross-border FX and payment use cases across multiple blockchain networks including Avalanche, Circle Arc, Polygon, BNB Chain, Plume, and Ethereum. Together, these products position BDACS as a full-stack digital asset infrastructure provider bridging traditional finance and Web 3.0.
Differentiator
Problem solved
Functional benefit
Brands
- KRW1: Korea's first KRW-pegged stablecoin backed 100% by Korean won deposits in domestic banks, issued on multiple blockchains including Avalanche, Arc, Polygon, BNB Chain, and Plume
- Prime Custody Solution
Products and services
- BDACS Digital Asset Custody Service Institutional-grade digital asset custody service providing secure virtual asset safekeeping and cryptocurrency storage for institutional investors and corporate clients. Supports 400+ digital assets, Security Token Offerings (STOs), Real-World Assets (RWAs), and diverse on-chain assets. Features enterprise-grade MPC wallets and cold storage infrastructure.
- Prime Custody Solution Premium institutional custody platform integrating custody, staking, lending, risk management, and reporting functions. Designed as a bridge between Web 2.0 and Web 3.0, enabling institutional clients to access KRW/USD stablecoins and deploy assets across CeFi, OTC, and DeFi markets. Includes staking, escrow, lending, and OES (Order Execution System) services.
- KRW1 Stablecoin 100% Korean Won-collateralized stablecoin developed by BDACS. Backed 1:1 by KRW deposits held in domestic Tier-1 bank accounts with bankruptcy remoteness protection. Issued on multiple blockchains (Avalanche, Circle Arc, Polygon, BNB Chain, Plume, Ethereum). Serves as the foundational on-chain payment, remittance, and settlement infrastructure for institutional and retail digital finance in Korea.
Quantifiable outcome
- Assets Under Custody (AUC) reached 800 billion KRW, achieving ~26.7% domestic market share — the largest in Korea by AUC
- +3 more outcomes
Companies that use BDACS
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
BDACS technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature6 records
BDACS partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, supporting and minor.
- Galaxy DigitalcoreStrategic partnership announced April 2025 covering three pillars: (1) Prime brokerage platform co-development for Korean corporate clients integrating custody, staking, lending, and risk management; (2) Digital asset ETF infrastructure support using Galaxy's global network and GK8's institutional-grade custody technology (Impenetrable Vault and uMPC); (3) Stablecoin regulatory research and Korea-specific service model development. Galaxy's subsidiary GK8 provides custody technology. BDACS-Galaxy-Sooho.io MOU signed November 2025 for stablecoin ecosystem expansion.
- Ripple (XRP)coreStrategic partnership announced February 2025 for institutional-grade XRP custody, XRPL ecosystem development support, RLUSD stablecoin activation infrastructure, and Busan blockchain regulatory zone synergy. BDACS became Korea's first custodian to offer institutional XRP custody services. BDACS received Ripple Innovation Award 2025 at Ripple Swell 2025.
- Circle (Arc, USDC)coreCircle selected BDACS as a stablecoin partner for the Arc Layer1 blockchain in October 2025. BDACS issues KRW1 on Arc as Korea's first KRW-based stablecoin, participates in StableFX for on-chain FX, and joins Circle Partner Stablecoins program for global payments and USDC interoperability. Circle CEO Jeremy Allaire publicly highlighted KRW1 as a successful Arc use case during his Seoul visit in April 2026.
- Avalanche (Ava Labs)coreKRW1 stablecoin was first issued on the Avalanche blockchain network in September 2025. Avalanche is recognized by KISA as a validated blockchain infrastructure for public network deployment. Ava Labs Asia provided validation of KRW1's successful PoC, citing Avalanche's high-performance and stable network as optimal for compliant stablecoin issuance.
- PolygonsupportingKRW1 expanded to Polygon blockchain in December 2025, leveraging Polygon's high throughput, low fees, and broad Web3 ecosystem integration. Polygon CEO Marc Boiron called the expansion 'an important advancement' reinforcing Polygon's position as a core stablecoin ecosystem with Stripe, Circle, and Mastercard partnerships.
- Polymesh AssociationsupportingStrategic partnership established October 2024 with Polymesh Association for regulatory-grade blockchain infrastructure supporting STOs and tokenized securities. BDACS participates as a key infrastructure partner in the Polymesh ecosystem for compliant digital asset management.
- GK8 (by Galaxy Digital)coreGK8, Galaxy Digital's subsidiary and institutional-grade self-custody platform, provides its core technology to BDACS: the 'Impenetrable Vault' (air-gapped cold wallet) and 'uMPC' (unlimited Multi-Party Computation) hot wallet. This enables BDACS to offer Korean institutions bank-grade custody with offline vault storage and multi-party computation key management.
- IDGX (IDG Capital Vietnam)supportingMOU signed September 2025 for joint venture to establish digital asset exchange and custody infrastructure in Vietnam. BDACS provides Korean regulatory management expertise and blockchain technology; IDGX provides local market knowledge, regulatory network, and capital. JV to be established within 2025 through Vietnam's regulatory sandbox program, targeting the Southeast Asian digital asset market.
- Wemade (위메이드)supportingMOU signed April 2026 to co-develop a commercial stablecoin payment standard model. BDACS provides its VASP and SOC 1 Type 2 certified custody infrastructure as the backend, integrating compliance-ready MMF tokens for large-scale IT network payment solutions.
- Aptos FoundationsupportingMOU signed May 2026 with Aptos Foundation to establish an on-chain commerce environment using KRW1, marking KRW1's first integration with a high-performance non-EVM network for global settlements. KRW1 on Aptos enables real-time cross-border payments and commerce for Korean and international users.
- Com2uS HoldingssupportingMOU signed February 2026 to build foundational infrastructure for KRW1 stablecoin, combining BDACS custody expertise with Com2uS blockchain experience. This partnership secured BDACS's leading position in Korea's digital won infrastructure following a successful PoC with Woori Bank.
- Sooho.io (수호아이오)supportingTripartite MOU with Galaxy Digital and BDACS signed November 2025 to build stablecoin payment and clearing infrastructure. Sooho.io provides blockchain technology and CBDC experience (Han River Project participation) to develop institutional stablecoin FX settlement networks and connect Korean enterprise clients to digital asset treasury and payment infrastructure.
- Animoca BrandsminorCo-participated with BDACS and Galaxy Digital in the 'Stradivarius Meets Gagliano in Seoul' blockchain-based classic concert event at KBW 2025 side event. Animoca Brands chairman Yat Siu participated in the panel discussion on real-world asset tokenization. Represents ecosystem partnership for RWA tokenization initiatives.
Scale indicators6 records
Recent moves11 records
Expansion highlights6 records
BDACS competitors and assessment
Company assessmentDirect peers
- BitGo: BitGo is a leading institutional digital asset custodian and trust company with cold storage and MPC wallet services. Both BDACS and BitGo focus on regulated institutional custody with multi-chain support.
- Fireblocks: Fireblocks provides institutional custody technology with MPC and multi-chain asset support, similar to BDACS's core custody architecture. Both serve institutional clients requiring secure digital asset storage with multi-party computation.
- Paxos: Paxos combines regulated custody with stablecoin issuance (USDP, PYUSD), directly paralleling BDACS's custody plus KRW1 stablecoin model. Both are regulated institutions offering institutional clients combined custody and tokenization services.
- Hex Trust: Hex Trust provides institutional digital asset custody with multi-chain support and banking-grade compliance, similar to BDACS's positioning. Both target regulated institutional clients across Asia.
- Anchorage Digital: Anchorage is a federally chartered crypto bank providing institutional digital asset custody. BDACS similarly combines bank-grade custody with regulatory credentials (VASP, ISMS, SOC 1 Type 2) targeting institutional clients.
Broad incumbents
- Coinbase Custody (Coinbase Prime): Coinbase's institutional custody arm offers institutional-grade digital asset storage with insurance and regulatory compliance globally. BDACS competes in Korean market with similar institutional focus but at a regional scale.
- Circle (custody services): Circle is a global stablecoin issuer (USDC) and partner to BDACS on KRW1. Circle's broader custody and stablecoin infrastructure overlaps with BDACS's institutional offerings and represents a regulatory-grade peer.
Regional players
- KODA (Korea Digital Asset Custody): KODA is a Korean digital asset custody provider identified as one of the main domestic competitors alongside BDACS. Both compete in the Korean institutional custody market with similar regulatory positioning.
- KDAC (Korea Digital Asset Custody): KDAC is another major Korean digital asset custody competitor. BDACS, KODA, and KDAC are identified as the three primary custody providers in Korea, all competing for institutional market share.
Emerging players
- GK8 (by Galaxy Digital): GK8 is Galaxy Digital's institutional self-custody platform whose MPC and cold storage technology is integrated into BDACS. As both a technology partner and competitor in the custody space, GK8 represents a closely related peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights5 records
Customer concentration
BDACS social profiles
Digital presenceBDACS compliance and trust
Trust signalCompliance2 records
BDACS financial estimates
Financial estimateRevenue estimate
Valuation estimate
BDACS leadership team
Management profileNumber of profiles
Profiles2 records
BDACS subsidiaries and ownership
Company hierarchySubsidiaries2 records
BDACS funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BDACS M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BDACS
What does BDACS do?
BDACS provides institutional-grade digital asset custody services for Korean banks, asset managers, securities firms, corporations, and government agencies, supporting 400+ digital assets, STOs, and RWAs through MPC hot wallets and air-gapped cold storage. The company also operates the Prime Custody Solution, an integrated platform combining custody, staking, escrow, lending, and trade support, and issues KRW1, Korea's first 100% KRW-collateralized stablecoin deployed across multiple blockchains. Services are delivered exclusively on a B2B basis with quote-based engagement and AUC-linked subscription pricing.
Is BDACS a public or private company?
BDACS is a private company. It is classified as venture growth investor backed and is currently operating.
When was BDACS founded?
BDACS was founded in 2022. It employs 51 to 100 people.
Where is BDACS based?
BDACS is headquartered in Seoul, South Korea, in the Asia region.
How does BDACS make money?
Three revenue lines are on record. Digital Asset Custody Fees are the primary driver. The others are stablecoin Infrastructure Services and prime Custody Platform Services.
Who are BDACS's main competitors?
Direct peers on record are BitGo, Fireblocks, Paxos, Hex Trust and Anchorage Digital. Broad incumbents are Coinbase Custody (Coinbase Prime) and Circle (custody services). Regional players are KODA (Korea Digital Asset Custody) and KDAC (Korea Digital Asset Custody). GK8 (by Galaxy Digital) is listed as an emerging player.
Does BDACS have an API?
No public API is recorded for BDACS.
What industry is BDACS in?
BDACS's product category is Digital Asset Custody. Its primary akta.pro industry code is FSAFAHAH, Digital Asset Custody (Institutional Crypto Custody), with a secondary code of FSAGAMAB, Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra). Its NAICS code is 522320 and its SIC code is 6199.