Binance To Help South Korean City Busan Launch Its Crypto Exchange

Twitter icon  •  Published vor 1 Jahr  •  Hassan Maishera

Binance has signed a Memorandum of Understanding (MoU) with the City of Busan, South Korea, to help them launch their crypto exchange.

Binance, the world’s largest cryptocurrency exchange, is set to help South Korean City Busan launch its cryptocurrency exchange. Busan is hoping to become a blockchain and cryptocurrency hub and has partnered strategically with Binance. 

While announcing this latest development, the city said;

“By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub.”

The cryptocurrency exchange has signed a Memorandum of Understanding (MoU) with the City of Busan, South Korea. The city is set to receive technological and infrastructure support from the world’s largest cryptocurrency exchange. 

Binance will help the City of Busan develop its blockchain ecosystem and promote the Busan Digital Asset Exchange. As part of the agreement between the two entities, Binance will share its order book with the Busan Digital Asset Exchange.

While commenting on this latest development, CZ (Changpeng Zhao), CEO and Founder of Binance, said: 

“We are happy to be working with the City of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts. Through our industry-leading position and technological expertise, combined with the City of Busan’s strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond. We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries.”

Heong-Joon Park, Mayor of Busan added that;

“With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a globally integrated platform for digital assets. By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub.”

Binance is the world’s largest cryptocurrency exchange. The company’s portfolio has increased in recent years to include; trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions.

According to the MoU, Binance will help the City of Busan’s blockchain sector in various ways, including:

  • Utilizing Busan’s blockchain regulatory-free zone to promote blockchain initiatives and businesses.
  • Supporting blockchain-related research and investments in the city.
  • Providing specialized blockchain education and online resources from Binance Academy.
  • Advancing initiatives that promote social well-being through Binance Charity.
  • Helping with the organization of Blockchain Week in Busan in 2022 (BWB 2022).

The cryptocurrency exchange is planning to establish a physical presence in Busan before the end of 2022 in a bid to help the city to become one of East Asia’s most vibrant digital hubs.

Binance’s further expansion in Asia and more positive Binance reviews ensure that the cryptocurrency exchange further cements its place as the world’s leading digital asset trading platform.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.