Binance is helping the South Korean city of Busan “expand crypto adoption in the city and beyond.” The global crypto exchange will also support the development of the city’s blockchain ecosystem and the Busan Digital Asset Exchange.
Binance Signs Memorandum of Understanding with Busan City
Cryptocurrency exchange Binance announced on Friday that it has signed a memorandum of understanding (MOU) with the metropolitan city of Busan. Busan, located at the southeast end of the Korean Peninsula, is South Korea’s second largest city with approximately 3.4 million inhabitants.
“As part of the agreement, the city of Busan will receive technological and infrastructural support from Binance for the development of the city’s blockchain ecosystem and the promotion of the Busan Digital Asset Exchange,” Binance explained.
“Another form of cooperation between the two parties will be the sharing of the order book,” the company added, noting that it will establish a presence in Busan by the end of the year.
Binance CEO Changpeng Zhao (CZ) said, “We are pleased to work with the city of Busan to bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.” The executive felt:
With our industry-leading position and technological expertise, combined with Busan City’s strong support for the blockchain industry, we hope to help grow crypto adoption in the city and beyond. of the.
“We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries,” Zhao added.
Busan Mayor Heong-Joon Park commented:
With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as an integrated global platform for digital assets.
“By making Busan a blockchain-focused city that attracts global attention, we will spur a new growth engine for the local economy and make it a global center for digital finance,” he added. .
What do you think of Binance’s work with the city of Busan to grow crypto adoption? Let us know in the comments section below.
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