Busan Digital Asset Exchange Launches 'Bidam' in June, Featuring SenGold

Busan Digital Asset Exchange (Bdan) has opened a new horizon in the digital financial market by decisively acquiring 'SenGold,' a domestic real-world asset exchange. Through this acquisition, Bdan has absorbed 100% of SenGold's shares, along with its platform boasting over 1.2 million subscribers and a cumulative transaction value of KRW 1.2 trillion, as well as its professional workforce. This decision, finalized after several months of thorough due diligence and evaluation, is expected to become a core growth engine for Bdan's future. SenGold, a subsidiary of Korea Gold Exchange, has already proven a robust business model by stably trading seven real-world asset-backed digital assets such as e-gold and e-silver, surpassing its break-even point in the first quarter of this year. Its value has been further recognized, driven by the expanding investment sentiment towards safe-haven assets like gold and the growth of the digital asset market. Bdan plans to innovatively expand the scope of real-world asset digitalization by extending trading items to include flour, crude oil, and wine. As a digital asset exchange established based on Busan city ordinances, embodying both public interest and stability, Bdan has added powerful momentum to its growth engine through the acquisition of SenGold. Bdan, which had previously gathered user feedback through its beta version operations, will dramatically enhance service quality and security levels by integrating SenGold's accumulated platform data and operational know-how. Furthermore, it plans to progressively implement a transition to a comprehensive financial platform encompassing both security tokens and cryptocurrencies. This strategic acquisition, which instantly shortens the years typically required for exchange establishment and the effort to secure a stable membership base, signifies that Bdan has laid a strong foundation to achieve market stabilization and growth simultaneously. Kim Sang-min, CEO of Bdan, stated his ambition: "Bdan is the platform where you can safely and easily invest in all assets of the world," adding, "We will leap beyond being a domestic 4th-generation blockchain RWA exchange to become a world-class comprehensive exchange." Bdan, aiming to be a 4th-generation decentralized blockchain exchange spearheaded by Busan City and established with private capital, is actively playing a role in building blockchain-based urban infrastructure, including developing a Web3 digital wallet for Busan citizens with Naver Pay and Hashed. The acquisition of SenGold will be a very important milestone within Bdan's grand vision.