Busan Digital Asset Exchange Acquires FLYBIT Through Parent Company Wehub

Busan Digital Asset Exchange's real-world asset trading platform Bdan announced on January 28 that its parent company Wehub signed an equity acquisition agreement with FLYBIT operator Korea Digital Exchange. Wehub, the controlling company of Busan Digital Asset Exchange's major shareholder Focus AI, will acquire 40% of Korea Digital Exchange, while Wehub's major shareholder Yang Jae-seok (JM Coffee Group chairman) will acquire 25%. The acquisition aims to strengthen competitiveness in Korean won trading and virtual asset service provider (VASP) operations by leveraging FLYBIT's regulatory-compliant internal control and anti-money laundering (AML) infrastructure. South Korea's Financial Intelligence Unit (FIU) has designated FLYBIT as a self-monitoring entity, with the exchange receiving an 'excellent' rating in comprehensive evaluations for its risk management framework.

Acquisition Structure and Ownership

Wehub and Yang Jae-seok recently completed the equity acquisition contract with Korea Digital Exchange. Wehub will hold 40% of Korea Digital Exchange, while Yang Jae-seok will hold 25%. The companies plan to secure majority shareholder status through additional paid-in capital increases in the future.

Regulatory Compliance Infrastructure

FLYBIT obtained self-monitoring entity status from South Korea's Financial Intelligence Unit (FIU). The exchange received an 'excellent' business rating in comprehensive evaluations, demonstrating an established risk management system that meets financial regulatory standards for internal control and anti-money laundering procedures.

Executive Statement on Integration Strategy

Kim Sang-min, CEO of Busan Digital Asset Exchange, stated: "Through this FLYBIT acquisition, we have established core infrastructure for Bdan to develop into a comprehensive digital finance platform beyond simply securing an exchange. We will organically combine Bdan's real-world asset trading capabilities with digital finance infrastructure to grow into South Korea's leading RWA and comprehensive digital asset trading platform."