BUSAN — Bdan Gold, operator of the Busan Digital Asset Exchange, said on the 21st that it has launched a service allowing customers to exchange "e-coffee" traded on its digital physical-commodity platform, Bdan, for actual green or roasted coffee beans delivered to their door.
E-coffee is a digital product linked to physical coffee and can be traded in units as small as 0.1 kilogram. Exchanges are available in 1-, 5- and 20-kilogram lots, with green beans as the default item. Customers who pay an additional processing fee can receive roasted beans instead. Supply and delivery are handled by McNulty International, the issuer of the exchange vouchers.
The beans available for exchange are Brazil Cerrado NY2, an arabica green bean grown in Brazil's Cerrado region. Bdan said it expects the service to link digital commodity trading to actual consumption, easing coffee purchasing costs not only for individuals but also for small business owners such as cafe operators.
"By converting digital exchange vouchers into a coffee product that customers can use in daily life, we have broadened the customer experience," said Kim Sang-min, chief executive of the Busan Digital Asset Exchange. "We will expand the range of products and services that can be exchanged for physical goods."
Meanwhile, arabica coffee prices on international futures markets stood at $310.10 per pound on the 20th, up 13.9% from $272.30 on Sept. 22, a month earlier.