Binance and Busan come together for Blockchain Tech
The cryptoverse seems to have a special meaning for the letter “B.” Blockchain, bulls and bears, and Binance, the largest cryptocurrency exchange in the world. The company has been dabbling in a number of markets in recent months as it prepares to expand. The Changpeng Zhao-led crypto platform was seen helping governments grow the crypto and blockchain industries as well as opening offices in multiple jurisdictions. Busan, South Korea, has recently entered the list.
CZ said Binance and Busan signed a Memorandum of Understanding (MoU) earlier today.
CEO Changpeng Zhao
Binance hopes to help the city create a blockchain ecosystem through this partnership. According to reports, the exchange should provide the city with help for the same in terms of technology and infrastructure. The site will also promote the Busan Digital Asset Exchange in addition to these activities.
Heong-Joon Park, the Mayor of Busan, made the following comments on the same,
“With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a global integrated platform for digital assets. By making Busan a blockchain-specialized city that attracts worldwide attention, we will boost a new growth engine for the local economy and make it a global digital financial hub.”
Binance to take advantage of Busan’s regulatory free zone
The company plans to support blockchain work and business using Busan’s regulation-free zone. Binance would support all blockchain-related research in the field. The agenda also included spreading technological education among the general public and launching activities through Binance Charity to promote social well-being.
It should also be emphasized that the stock exchange has become a favorite of governments all over the world. The exchange teamed up with the Philippine government earlier this week to introduce rules governing the cryptoverse. The company said earlier in May that it had entered into an MoU with Kazakhstan’s Ministry of Digital Development.
Furthermore, investors have been warned by CZ to stay away from cryptocurrency inventors who switch between projects. After bumping into bad players for causing tremors in cryptocurrency exchanges, the top executive gained attention.
The CZ-led exchange seems to be trying to win worldwide by dominating the cryptocurrency market.
