Binance is helping Busan, South Korea ” grow the adoption of crypto within and outside the city.” The global crypto exchange will also support the development of the city’s blockchain ecosystem and the Busan Digital Asset Exchange.
Binance Signs MOU with Busan City
Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan is located on the southeastern tip of the Korean Peninsula and is South Korea’s second largest city with approximately 3.4 million residents.
“As part of the agreement, Busan City will receive technical and infrastructure support from Binance to develop the city’s blockchain ecosystem and promote the Busan Digital Asset Exchange,” Binance explained.
“Another form of cooperation between the two parties is the sharing of order books.” the company added, noting that it plans to establish a presence in Busan by the end of the year.
Changpeng Zhao (CZ), CEO of Binance, said:” We are pleased to be working with the City of Busan to bring specific blockchain-related developments that will benefit and support the city’s innovation efforts.” The executive opined.
Through our industry-leading position and technical expertise, combined with Busan City’s strong support for the blockchain industry, we hope to help expand crypto adoption in the city and beyond.
“We look forward to working closely with the city to support the establishment of digital asset exchanges and various blockchain industries.” Zhao added.
Busan Mayor Heong-Joon Park commented:
This agreement brings us one step closer to establishing the Busan Digital Asset Exchange as a global integrated platform for digital assets.
“By making Busan a specialized blockchain city that the world will pay attention to, we will boost a new growth engine for the local economy and make it a global digital finance hub,” he further said.
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