Busan Digital Asset Exchange’s ‘Bdan’ turns profitable in a year…posts operating profit of KRW 2.82 billion

Bdan, a real-world asset platform operated by the Busan Digital Asset Exchange, has successfully swung to profitability.

The Busan Digital Asset Exchange said on the 1st that Bdan posted operating profit of about KRW 2.82 billion in 2025.

Bdan is a precious-metals trading platform previously operated by Korea Gold Exchange Digital Asset, and the Busan Digital Asset Exchange completed its acquisition in September 2025. Prior to the acquisition, in 2024, it recorded an operating loss of about KRW 4.89 billion, but improved by about KRW 7.7 billion in a year, shifting to a profit structure.

Over the same period, the operating margin climbed about 570 percentage points, from -510.4% to 58.2%. Transaction volume also jumped more than 90%, from KRW 253.6 billion to KRW 482.2 billion.

The Busan Digital Asset Exchange explained that it achieved rapid performance improvement by surpassing the break-even point (BEP) just three months after the acquisition. Since then, both trading volume and revenue have continued to rise, indicating it has entered a growth trajectory.

The achievement is seen as significant in that it was driven by business-structure improvements rather than cost cutting. The company said it boosted results through measures such as improving the efficiency of its profit model and strengthening brand strategy, without workforce restructuring.

Bdan is also maintaining its growth momentum in the first quarter of 2026. During the period, operating profit has already exceeded the full-year 2025 result, and transaction volume has reached about 75% of the prior year’s full-year level.

Growth in key products is also notable. Monthly transaction volume for ‘eSilver’, a physical silver-based product, rose about 20-fold from KRW 2.7 billion in January 2025 to KRW 50.4 billion in December. This exceeds the roughly KRW 30.7 billion in annual silver-bar sales at four major domestic commercial banks.

Going forward, the Busan Digital Asset Exchange plans to expand its lineup of real-world asset products—such as coffee beans, pu’er tea and whisky—and diversify its revenue model through its fixed-subscription savings service ‘Chagok Chagok’, IP business, and buy-now-pay-later services.

Kim Sang-min, CEO of the Busan Digital Asset Exchange, said, “This earnings improvement is the result of the market validating Bdan’s potential,” adding, “The digitization of real-world assets is a core trend in wealth accumulation and an important market trend.”