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Deep Tide TechFlow message: On May 28, Busan Digital Asset Exchange said its largest shareholder’s holding company, WeHub, has signed an equity acquisition agreement with Flybit’s operator, Korea Digital Exchange, to promote its digital physical asset trading platform, Bdan, to expand into a virtual asset trading platform.
According to the disclosure, WeHub and its largest shareholder Yang Jae-seok plan to acquire 40% and 25% of Korea Digital Exchange, respectively. They will also seek to obtain a controlling interest through a capital increase. Busan Digital Asset Exchange said that this move will strengthen its competitiveness as a Korean won trading and virtual asset service provider based on internal controls and an anti-money laundering mechanism.