Today cryptocurrency exchange Binance announced a deal with Korea’s second-largest city, Busan. The city has had plans for the Busan Digital Asset Exchange (BDAX) for some time, and Binance will help to promote it. Binance and BDAX will also share order books and Binance plans to establish a presence in the city this year. Korea is one of the countries where the world’s biggest cryptocurrency exchange is not a leader.
Currently, the leading Korean crypto exchanges are UPbit, Bithumb, Coinone and Korbit, which make up 90% of South Korean volumes.
According to reports last year, BDAX won’t only support cryptocurrencies but is also targeting NFTs and security tokens. The original target launch date was June this year.
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