Binance has signed a Memorandum of Understanding (MoU) with the City of Busan in South Korea for the development of Busan City’s blockchain sector.
As reported by ‘PRNewswire’, Binance will provide the City of Busan with technological and infrastructure support for the development of the city’s blockchain ecosystem and promotion of the Busan Digital Asset Exchange.
“Another form of cooperation between the two parties will be order book sharing.
Furthermore, Binance said that it will be establishing a presence in Busan by the end of the year, which is expected to serve as a driving force for the city to become one of East Asia’s most vibrant digital hubs.”
The report cited the CEO and Founder of Binance, Changpeng Zhao saying, “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.”
“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,” Heong-Joon Park, Mayor of Busan, said.