Busan, the South Korean city, plans to launch a blockchain-powered digital assets trading platform this year.
This comes as a big surprise, since the country has been trying to push crypto out of the mainstream for the past few years.
But officials at a press conference in Busan say they’re finally going to launch the BBDX before the year is over.
What’s so special about this platform?
It can tokenize and sell valuable assets such as raw materials, precious metals, carbon and emissions certificates, and intellectual property rights.
Park Hyeong-jun, Busan mayor, says the exchange will be completely funded entirely solely by private capital.
Park said the initial public offering would start in mid-October and the business operator would be chosen in November.
The company will hold an investor meeting in October and have a board of directors in November with a business owner selected in December.
Meil Kyungjae, deputy mayor, explains that