Busan, South Korea's second largest city, is building an urban blockchain that is compatible with Ethereum, Cosmos, etc. In the first half of 2024, it will launch an city exchange that can trade tokenized gold, silver, copper and oil, and has established a 100 billion won (75 million USD) blockchain fund.

On the 21st, the city of Busan announced that it will promote the development of the blockchain mainnet as a mid- to long-term task through the 'Busan Digital Asset Exchange Establishment Promotion Plan and Future Schedule' plan.

It also announced plans to implement Busan as a'blockchain city' centered on the Busan Digital Asset Exchange and to create a blockchain innovation fund.