Focus AI has completed the acquisition of Busan Digital Asset Exchange and has become its largest shareholder

According to Decrypt, Focus AI announced the completion of the payment for the acquisition of Busan Digital Asset Exchange. Focus AI ultimately obtained a 40.61% stake, officially becoming its largest shareholder and gaining operational control.

Busan Digital Asset Exchange is South Korea's first RWA tokenized exchange, currently supporting 23-hour digital trading of seven types of physical assets, including gold, silver, and platinum. Its participating KDX alliance recently received the first preliminary license for over-the-counter securities brokerage business for STO from the Financial Services Commission (FSC) of South Korea. Focus AI plans to leverage this acquisition to combine AI, payment, stablecoin, and e-wallet technologies to build the infrastructure for a Web3 payment platform and promote the development of RWA and STO businesses.