Busan Digital Asset Exchange, scheduled to launch within the year, announced on the 19th that it signed a memorandum of understanding (MOU) with ADDX, Singapore's largest token securities offering (STO) trading platform, for cooperation in digital asset and real-world linked assets (RWA) trading.
Founded in 2017, ADDX is Singapore’s largest STO trading platform that has successfully tokenized corporate bonds. Currently, there are over 20 STO products listed on the ADDX platform.
ADDX is used by users in over 40 countries. To date, over $730 million (KRW 930 billion) worth of digital assets (bonds, commercial papers, etc.) have been traded. It has also attracted $120 million (KRW 160 billion) in investment from domestic and foreign investors such as Hanwha Asset Management and KB Securities.
With the signing of the MOU, the two companies agreed to cooperate on ADDX’s STO trading and investment attraction experience to achieve the goal of Busan Digital Asset Exchange as a ‘4th generation decentralized digital asset exchange.’ ADDX plans to share its customers, technology, and platform operation know-how with Busan Digital Asset Exchange in the future.
ADDX CEO Danny To emphasized, “ADDX will actively share its experience in securing customers and products and issuing licenses with the Busan Digital Asset Exchange, and cooperate with the Busan Digital Asset Exchange so that the future of cross-listing and trading STO and RWA products can quickly become a reality.”
Busan Digital Asset Exchange CEO Kim Sang-min said, “As the number one STO exchange in Singapore, Busan Digital Asset Exchange will further specify its exchange operation plan by learning from ADDX’s experience and know-how, which has secured numerous domestic and international investors.”
Meanwhile, Busan Digital Asset Exchange, as a 4th generation decentralized digital asset exchange, plans to establish a fair and transparent trading system and develop a business plan to list and trade competitive RWA products, which will be implemented within the year.
CEO Kim said, “Busan Digital Asset Exchange will establish itself as a trustworthy digital asset exchange that prioritizes investor protection,” and “You will be able to see the specific implementation plan of Busan Digital Asset Exchange directly through BWB2024, which will be held in Busan on October 28-29.”
