According to a Korean Tech news publication, ETnews, Busan City authorities are seeking to establish a blockchain-based digital currency project in partnership with BNK Busan Bank, a subsidiary of local holding business BNK Financial Team.

Particularly, Busan is apparently creating a crypto task in the type of stablecoin, a cryptocurrency fixed 1:1 to the local money in the BNK Busan savings account. By releasing a regional digital currency, Busan anticipates to revive the local economic situation, as well as to safeguard the leading position in blockchain, the report notes.

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