Busan Signs MOU with Cambodia to Export Blockchain City Model

Busan Digital Asset Nexus (Bdan), South Korea's pioneering exchange focused on real-world assets (RWA), has signed a memorandum of understanding (MOU) with Cambodia's Securities and Exchange Regulator (SERC) to export the city’s blockchain-driven urban model. The signing ceremony, held at Bdan headquarters in Busan, marked a significant step toward globalizing Busan’s “blockchain city” vision.

The collaboration aims to share Busan's expertise in blockchain development and digital finance with Cambodia, focusing on implementing the blockchain city framework in Phnom Penh, the Cambodian capital. Both parties will conduct joint research to assess feasibility, explore tokenization of RWAs, and review legal frameworks necessary for the initiative’s success. The partnership also extends to Web3 education, fintech training, and technological exchanges to support regulatory development.

Since its launch last October, Bdan has been central to Busan’s "Target 2026 Blockchain City" initiative, which seeks to position the city as a global leader in blockchain innovation. The exchange is developing a Web3 wallet, tentatively named "Bdan Pouch," in collaboration with Naver Pay and Hashed, aiming to digitize payments, identity verification, and investments for Busan citizens by 2035. The city’s blockchain model has attracted international interest, with discussions underway in Japan, Singapore, Malaysia, Thailand, and Cambodia through the Asia Digital Asset Exchange Alliance.

Cambodia’s partnership with Busan aligns with its ambitions to modernize financial systems and urban infrastructure using blockchain technology. SERC Chairman Sou Socheat emphasized the importance of this collaboration in driving Cambodia’s digital transformation. Bdan CEO Kim Sang-min expressed confidence in Busan’s role as a global hub for blockchain and digital finance, stating that the city’s model could serve as a blueprint for megacities worldwide.