South Korea's Busan Digital Asset Exchange officially launched: 10 billion won investment, RWA as main business

The Busan Digital Asset Exchange in South Korea announced today that it has officially launched, with a full investment of 10 billion won. Previously, 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 at the end of March, established an organizational structure, and clarified its business plan. The exchange plans to increase asset liquidity by simplifying RWA asset transactions and make Busan a global digital financial center. (news1) In September last year, the Busan City of South Korea passed the "Busan Digital Asset Exchange Establishment Promotion Plan and Future Schedule" plan, which will promote the development of the blockchain mainnet as a medium- and long-term issue. It plans to establish a blockchain mainnet that is compatible with blockchain mainnets such as Ethereum and Cosmos, and will be carried out as a separate project. In addition, Busan City has proposed to build Busan into a "blockchain city" with the Busan Digital Asset Trading Platform as the center, and set up a 100 billion won (about 75 million US dollars) blockchain innovation fund.