Binance Signs an MOU for the Blockchain Development of Busan City
Binance
will help the South Korean city of Busan "grow crypto adoption within the
city and beyond." The global crypto exchange will develop the blockchain ecosystem of the city and the Busan Digital Asset
Exchange.
Binance Signs MOU with Busan City
Global cryptocurrency
exchange Binance announced on 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 the second largest city in
South Korea with approximately 3.4 million residents.
"As
part of the agreement, the city of Busan will receive technological and
infrastructure support from Binance for the development of the city’s
blockchain ecosystem and promotion of the Busan Digital Asset Exchange,"
Binance explained.
"Another
form of cooperation between the two parties will be book sharing," the
company added, noting that it will be establishing a presence in Busan by the
end of the year.
Binance
CEO Changpeng Zhao (CZ) 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." The CEO opined:
"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," Zhao added.
The Mayor of Busan, Heong-Joon Park, said:
"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," he further said.
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