FocusAI completes acquisition of the Busan Digital Asset Exchange… secures a 40.6% stake

KOSDAQ-listed FocusAI has completed its acquisition of the Busan Digital Asset Exchange (Bidan·Bdan).

FocusAI said on the 27th that it has completed payment of the remaining balance for the acquisition of the Busan Digital Asset Exchange. With the payment, FocusAI has secured a 40.61% stake in the exchange, becoming its largest shareholder. The second-largest shareholder is ITCEN Global, which holds about 19%.

FocusAI has been pursuing the acquisition since late last year. The company believes the Busan Digital Asset Exchange has established a leading position in digital-asset trading based on real-world assets (RWA).

With the acquisition, FocusAI plans to accelerate its digital-asset infrastructure business spanning RWA, tokenized securities (STO) and stablecoins. FocusAI’s strategy is to maximize synergies by leveraging the strengths of both companies and to expand its digital-asset business in stages.

Meanwhile, the KDX consortium, which includes the Busan Digital Asset Exchange, was recently selected by the Financial Services Commission as the preliminary licensee for the country’s first STO over-the-counter (OTC) exchange. The consortium, led by Korea Exchange (KRX), includes about 40 major financial institutions and companies, including the BNK Financial Group. If the STO OTC exchange is established in Busan after receiving a full license, the Busan Digital Asset Exchange is expected to further strengthen its standing.

A FocusAI official said, "This acquisition marks the starting point for building a Korea-style Web3 payment infrastructure that combines artificial intelligence (AI), payments, stablecoins and electronic wallets," adding, "Based on the growth potential and scalability of the Busan Digital Asset Exchange, we will progressively upgrade digital-asset-based payment and settlement infrastructure to secure mid- to long-term growth drivers."