Binance signs MoU with the city of Busan to promote the development of the blockchain industry

BUSAN, South Korea, 25 August 2022 /PRNewswire/ — Binancethe world’s leading blockchain ecosystem behind the largest cryptocurrency exchange by trading volume, today announced the signing of a Memorandum of Understanding (MoU) with The city of Busan in South Korea.

As part of the agreement is The city of Busan will receive technological and infrastructure support from Binance for the development of the city’s blockchain ecosystem and the promotion of the Busan Digital Asset Exchange. Another form of cooperation between the two parties will be the sharing of order books.

Binance plans to develop and nurture Busan The city’s blockchain sector in several ways:

• Exploits Busan’s blockchain regulatory free zone to promote blockchain initiatives and businesses.
• Support blockchain-related research and investment in the city.
• Offers specialized blockchain education and online resources from Binance Academy.
• Promote measures that promote societal well-being through Binance Charity.
• Helping with the organization of Blockchain Week i Busan in 2022 (BWB 2022).

Furthermore, Binance said it will establish a presence in Busan by the end of the year, which is expected to act as a driving force for the city to become one of East Asia most vibrant digital hubs.

CZ (Changpeng Zhao), CEO and founder of Binance, said: “We are excited to work with The city of Busan to bring concrete 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 strong support for the blockchain industry, we hope to help increase crypto adoption in 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 ParkMayor of Busansaid, “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 turn it into a global digital financial hub,” he added.

About Binance

Binance is the world’s leading provider of blockchain ecosystems and cryptocurrency infrastructure with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and has an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social goods, investment and incubation , decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com.

SOURCE Binance