According to Odaily Planet Daily, the Busan Digital Asset Exchange in South Korea was officially launched today with a full investment of 10 billion won. The Busan City designated the Busan BDX Consortium, which consists of 11 companies including ITcen, Barunson, Hana Bank, and Hana Securities, as the establishment and operation of the Busan Digital Asset Exchange.
The Busan Digital Asset Exchange board of directors appointed its first CEO, Sang-min Kim, in late March, formed an organizational structure, and clarified its business plan. The exchange plans to increase asset liquidity by simplifying RWA asset trading and make Busan a global digital financial center.
Last September, Busan, South Korea, passed the "Plan for the Establishment and Future Schedule of Busan Digital Asset Exchange", which will promote the development of blockchain mainnet as a medium- and long-term issue. It plans to establish a blockchain mainnet that is compatible with Ethereum, Cosmos and other blockchain mainnets, and will be carried out as a separate project. Busan also proposed to build Busan into a "blockchain city" with Busan Digital Asset Exchange as the center, and set up a 100 billion won (about 75 million US dollars) blockchain innovation fund.
