Busan dreams of becoming a digital asset trading hub… Two major investors are backing it - South Korean media

With the Blockchain Week in Busan 2024 taking place, Busan is attracting attention as the center of the STO (Security Token Offering) market.
The reason why the company was able to take a step ahead as a blockchain special zone was because of the strong backing of Main Street Ventures and ITSE, the major shareholders of the Busan Digital Asset Exchange.
The Busan Digital Asset Exchange was officially launched on the 28th at Blockchain Week in Busan 2024, held at Signiel Busan in Haeundae-gu, Busan.
The Busan Digital Asset Exchange unveiled its new name, BDAN (Busan Digital Asset Nexus).
According to the investment banking industry, ITSC has made 2 billion won (approximately 220 million yen) in the first half of this year.
1 million yen) and acquired a 20% stake in BDAN, making them the second largest shareholder. In January, the company passed a resolution to inject capital into BDAN.
Currently, BDAN's largest shareholder is Main Street Ventures, which obtained a venture capital license earlier this year.
Since CHAZ is not involved in the management of BDAN, the management rights of Busan Digital Asset Exchange are effectively secured by ITSC. Main Street Ventures is merely an investment vehicle.
In addition, Hana Securities and Hana Bank, which are also members of the consortium, invested 300 million won (approximately 33.2 million yen) each in May and
They each hold a 3% stake in the digital asset exchange. Currently, the Busan Digital Asset Exchange is run by Kim Sang-min, who serves as both an internal director and CEO.
Street Partners CEO Park Seung-woo, Okon CEO Kim Il-ho, and Haiti Sen Chairman Kang Jin-mo have been serving as internal directors since March.
Auditor Ng In-cheol and others are also on the board of directors. Previously, ITSC signed the Busan Digital Asset Exchange (BDX) in February, which is a consortium of 11 companies and was signed by the city of Busan.
The company has been designated as the operator of the Busan Digital Asset Exchange under the Agreement on the Establishment and Operation of the Busan Digital Asset Exchange.
The consortium's representative company, ITISEN, is one of Japan's leading companies.
The company has made it clear that it is actively working to develop new markets, for example by signing memorandums of understanding between the company and an STO business, as well as agreements with overseas companies in Saudi Arabia, Japan, Malaysia, and elsewhere.
With the opening of the Busan Digital Asset Exchange, it is expected that full-scale services will begin and associated sales will be generated.
On the other hand, BDAN's recent acquisition of Sengold was also made by IT-SEN, the second largest shareholder.
It is said that the impact was large. SenGold is a platform owned by Korea Gold Exchange Digital Assets, a subsidiary of IT-SEN. IT-SEN is Sengo
The acquisition was arranged to expand World into a trading platform in Busan. CEO Kim Sang-min said, "All value in the world will be tokenized by the blockchain.
"The era of digital authentication will come," he said, adding, "BDAN will play a major role in Busan's development as a digital finance hub."
The market is paying close attention to whether BDAN can become the center of the STO and real-world asset market. An STO industry source said, "There are many STOs in Busan, which is a blockchain special zone.
"I expect that many O companies will gather here," he said. "Recently, a bill on STOs has been proposed, and I hope that the market will be institutionalized quickly."