The “Asia Digital Asset Exchange Alliance” was launched at Blockchain Week in Busan (BWB) 2024.

The founding members of “Asia Digital Asset Exchange Alliance” includes six domestic and international digital asset exchanges: Busan Digital Asset Exchange from Korea, Osaka Digital Exchange (ODX) from Japan, ADDX from Singapore, GreenX from Malaysia, TokenX from Thailand, and Mekong Digital Exchange (MKEX) from Cambodia.

Representatives of these exchanges, attending BWB2024, emphasized their commitment to strengthening the digital asset ecosystem and enhancing global competitiveness. They agreed to collaborate on market expansion, regulatory coordination, and the exchange of information, technology, and operational expertise. Their aim is to protect customer while driving the growth of their respective exchanges.

“Asia Digital Asset Exchange Alliance” consists of key digital asset exchanges from various countries. The representatives of each exchange attending BWB2024 expressed their expectations for the alliance.

Mr. Sang-min Kim, CEO of Busan Digital Asset Nexus, stated, “I am grateful to announce the launch of the Asia Digital Asset Exchange Alliance, along with the establishment of the Busan Digital Asset Exchange at BWB2024. We will do our utmost to grow alongside our overseas partners that are already successfully operating.”

Mr. Kimio Mikazuki, Representative Director and President of Osaka Digital Exchange (ODX), remarked, “Japan’s blockchain ecosystem has seen rapid growth due to its integration into the regulatory framework. We hope to share our experiences and expertise with the other “Asia Digital Asset Exchange Alliance” members to support growth mutually.”

Mr. Inmoo Hwang, Co-founder and Group CFO of ADDX in Singapore, stated, “ADDX has been on a mission to make investing fairer by democratizing private markets and reducing manual interventions in the issuance, custody, and distribution of private market products. With the Asia Digital Asset Exchange Alliance, I hope to see broader collaboration, including RWAs, to expand the market, provide customer benefits, and increase the market size for all member exchanges.”

Mr. Philip Tam, CXO of GreenX from Malaysia, commented, "As the first Shariah Compliant Digital Asset Exchange, GreenX is making significant inroad into Islamic communities from Indonesia to middle east with our Shariah compiant RWA token. Joining "Asia Digital Asset Exchange Alliance" at this momoent is perfect timing not only for over 1.9 billion Islamic communities but also for member exchanges as it expands the market. We look forward to collaborating to develop Asia RWA market.

Ms. Jittinun Chatsiharach, CEO of Token X from Thailand, said, “Token X has worked on the tokenization and digitalization of physical assets in Thailand’s Web 3.0 ecosystem. I am excited to collaborate with exchanges that share the same goal. We will effectively share our long-standing experience in trading within the regulatory framework with Busan Digital Asset Exchange and other “Asia Digital Asset Exchange Alliance” members.”

Ms. Grace Lee, Chairwoman of Mekong Digital Exchange (MKEX) from Cambodia, stated, “MKEX’s participation in “Asia Digital Asset Exchange Alliance” is the most exciting development since receiving approval from the Cambodian securities authority. I believe “Asia Digital Asset Exchange Alliance” will be a welcome rain for Cambodia and Asia’s digital asset markets.”

“Asia Digital Asset Exchange Alliance” plans to continue strengthening cooperation following BWB2024.

The Busan Digital Asset Exchange announced, “The Asia Digital Asset Exchange Alliance will regularly convene committees for information sharing among member exchanges and will actively work on this collaboration.”

Mr. Sang-min Kim, CEO of Busan Digital Asset Exchange, added, “Asia Digital Asset Exchange Alliance will first cooperate to ensure customer trust and investor protection across digital asset exchanges in each country. Through this, “Asia Digital Asset Exchange Alliance” will become the most important partner to support the stable growth and market expansion of its members.”

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