WeHub, the holding company of the largest shareholder of the Busan Digital Asset Exchange, is set to acquire the cryptocurrency exchange Flybit, marking its entry into the virtual asset market. The acquisition agreement involves WeHub and its largest shareholder, Yang Jae-seok, Chairman of JM Coffee Group, though financial details remain undisclosed. Post-acquisition, WeHub will own 40% of Flybit, Yang Jae-seok will hold 25%, and Flybit’s CEO, Kim Seok-jin, will retain 15%. Flybit, which has struggled with market share due to the lack of a real-name Korean won bank account, is valued for its VASP license and strong AML infrastructure. The exchange has been rated as an "excellent" operator by the Financial Intelligence Unit. The acquisition will enable the integration of Flybit’s cryptocurrency trading infrastructure with the Busan Digital Asset Exchange’s physical asset trading capabilities, paving the way for new services, including stablecoins.