FocusAI in talks to acquire South Korean exchange Flybit

According to BizWatch, FocusAI, the largest shareholder of Busan Digital Asset Exchange, is seeking to acquire South Korean cryptocurrency exchange Flybit. Both parties have entered the final stage of discussing the details of the transaction, including the sale of shares held by Flybit CEO and largest shareholder Kim Seok jin. Flybit registered as a virtual asset service provider in 2021, but withdrew from the Korean won valuation market due to the inability to establish real name account partnerships with banks.