The Busan Digital Asset Exchange (BDAN) is moving ahead with plans to build a Korean won-pegged stablecoin platform, marking one of Korea’s most ambitious efforts to integrate blockchain technology into everyday life and public infrastructure. The initiative is being developed in partnership with E8, a company specializing in digital twin platforms that replicate real-world environments in data form.
Under the agreement, BDAN and E8 will co-develop a blockchain system designed to issue and manage stablecoins backed by fiat currency and potentially other assets such as gold or U.S. dollars. The tokens will be tested for use in a range of applications, including retail payments, micro-transactions, municipal services, and smart contracts tied to urban operations.
E8 has previously deployed digital twin technology in Sejong and Busan’s Eco Delta Smart City, which will serve as pilot zones for validating the platform. By connecting stablecoin payments to live city management data, the project aims to create a model for how digital currencies can seamlessly function within public and private services.
BDAN itself was launched as a next-generation decentralized exchange under Busan’s municipal government initiative. In addition to the stablecoin project, it has partnered with companies like Naver Pay and Hashed to develop Web3 wallets and strengthen security across its blockchain ecosystem. The effort is part of Busan’s broader strategy to become a leading center for tokenized real-world assets and secure digital asset trading.
While the partnership has attracted significant interest, major regulatory questions remain. Korean authorities have yet to finalize clear guidelines covering stablecoin issuance, reserve management, and anti-money laundering controls. Industry analysts note that strong compliance frameworks and transparency will be essential for winning public trust and securing official approval.
Observers believe that if BDAN succeeds, the project could set an important precedent for blending blockchain with smart city infrastructure and demonstrate how stablecoins can support practical services in everyday life. With preparations underway for pilot deployments, Busan is positioning itself at the forefront of Korea’s evolving digital finance landscape.
