Busan, the second-largest city in South Korea, plans to have the exchange initially trade tokenized commodities, the government said.
Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Busan, the second-largest city in South Korea, plans to establish a digital assets exchange in November with an official business launch targeted for the first half of next year, the city government announced today.that the upcoming exchange will not list cryptocurrencies but instead plans to allow users to trade tokenized commodities on a blockchain.
The government said it will start a public offering process next month, select a business operator in November and register the exchange as a company. The exchange will be set up purely with private capital, the government added, with administrative and financial support from the city. Busan also plans to set up a 100 billion won fund to support the development of blockchain technology, according toIn an attempt to become a “blockchain city,” Busan is also developing a mainnet that it hopes to be compatible with major networks — such as Ethereum and Cosmos — according to the report.reached an agreement with Busan
to help develop the city's blockchain infrastructure and support its efforts to boost crypto adoption and business development. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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