Hongyul (Harry) Ryoo is the co-founder and Chief Executive Officer of BDACS, a regulated digital asset custody service for institutional clients. Before entering the digital asset industry, he was a partner at the law firm Lee & Ko, where he specialized in intellectual property, FinTech, and blockchain technology law for over 15 years. ^{[1] [2]}

Education

Ryoo attended Seoul National University from 1997 to 2005, where he earned a Bachelor of Science degree in Mechanical & Aerospace Engineering. Following his undergraduate studies, he pursued legal training at the Judicial Research and Training Institute of the Supreme Court of Korea, completing the 36th class between March 2005 and January 2007. He later attended the University of Southern California in the United States, where he obtained a Master of Laws (LLM) degree. ^{[1] [2] [8]}

Career

Ryoo began his legal career in February 2007 as an attorney at the law firm Lee & Ko, where he eventually became a partner in the IP Practice Group and the Future Intelligence Information Group. During his 15-year tenure, which concluded in February 2022, he represented multinational corporations in complex legal matters, including patent infringement, trade secret misappropriation, and trademark disputes. His practice also involved advising clients on legal and regulatory issues related to FinTech and blockchain, such as Initial Coin Offerings (ICOs) and cryptocurrency exchange listings. From August 2012 to April 2013, he worked at the Los Angeles office of Quinn Emanuel Urquhart & Sullivan, where he was involved in the intellectual property litigation between Apple and Samsung, representing Samsung.

In March 2022, Ryoo transitioned from his legal practice to co-found BDACS (Blockchain Digital Asset Custody Service), where he serves as Chief Executive Officer. Based in Busan, South Korea, BDACS operates as a regulated Virtual Asset Service Provider (VASP) focused on providing institutional-grade custody and asset management solutions. Under his leadership, the company aims to build regulatory-compliant infrastructure for digital assets in Korea, with a focus on real-world asset (RWA) tokenization, stablecoins, and spot Bitcoin ETFs. Ryoo has also served as an Outside Director for Mom’s Touch & Company Co., Ltd. from March 2022 to April 2024 and was briefly the Co-Chief Executive Officer of Wingold Korea, a precious metal trading platform developer, from March 2022 to November 2023. ^{[1] [3] [2] [8]}

BDACS Leadership and Vision

As CEO of BDACS, Ryoo has overseen the company's establishment as a key player in South Korea's institutional digital asset sector. He has publicly articulated the company's mission to expand financial services built on digital assets through a foundation of security and scalability. In a statement regarding a company event, Ryoo commented on the state of the market: "Korea stands at a critical turning point in the digital asset market. BDACS will play a central role in expanding financial services built on digital assets. from stablecoins to spot Bitcoin ETFs, supported by a foundation of trust and scalability."

He has also emphasized the importance of strategic partnerships with both traditional financial institutions and global blockchain leaders. In February 2025, when announcing a partnership with Ripple, Ryoo stated, "BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives. Ultimately, this partnership will enable both companies to enhance and expand the digital asset ecosystem.” ^{[4] [3]}

Under his direction, BDACS has formed several key partnerships:

• Woori Bank: In December 2024, BDACS announced a partnership with Woori Bank, one of South Korea's major commercial banks, to collaborate on digital asset banking and custody infrastructure. ^[5]
• Ripple: A strategic partnership was announced in February 2025 for BDACS to provide institutional custody for XRP and Ripple's stablecoin, RLUSD, utilizing Ripple's custody software. ^[4]
• Polymesh: In October 2024, the company partnered with Polymesh Network to focus on services related to Real World Assets (RWAs) and Security Token Offerings (STOs). ^[6]
• Avalanche: BDACS became the first custodian in Korea to offer institutional-grade custody for the AVAX token in March 2025. ^[6]
• Galaxy Digital and Animoca Brands: BDACS co-hosted an event during Korea Blockchain Week 2025 with Galaxy Digital and Animoca Brands to showcase financial innovations in RWA tokenization. ^[3]

These partnerships reflect the company's strategy to bridge traditional finance with the emerging digital asset ecosystem in South Korea. ^[4]

Public Appearances

Ryoo is a recognized figure in the South Korean digital asset market and participates in industry events. He was listed as a speaker for the STO Summit (STOS 2025). In April 2024, BDACS published an interview with Ryoo as part of a series titled "Visiting the Digital Asset Market Scene," where he provided his perspective on the local ecosystem. ^{[2] [7]}