Binance to Help South Korean City of Busan Increase Cryptocurrency Adoption, Develop Blockchain Ecosystem – Regulation Bitcoin News

Binance to Help South Korean City of Busan Increase Cryptocurrency Adoption, Develop Blockchain Ecosystem – Regulation Bitcoin News

Binance is helping the South Korean city of Busan “increase cryptocurrency adoption within 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 MOU with Busan city

Cryptocurrency exchange Binance announced on Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with a population of approximately 3.4 million.

“As part of the agreement, the city of Busan will receive technology and infrastructure support from Binance to develop the city’s blockchain ecosystem and promote the Busan digital asset exchange,” Binance explained.

“Another form of cooperation between the two parties will be the sharing of orders,” 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 happy to work with the city of Busan to bring tangible blockchain-related developments that will benefit and support the city’s innovation efforts.” The executive authority assessed:

Through our industry leadership and technology expertise, combined with the city of Busan’s strong support for the blockchain industry, we hope to help increase cryptocurrency adoption in the city and beyond.

“We look forward to our close cooperation with the city to support the establishment of digital asset exchange and various blockchain industries,” Zhao added.

The mayor of Busan, Heong-Joon Park, commented:

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 city that attracts worldwide attention, we will fuel a new growth engine for the local economy and make it a global digital financial hub,” he further said.

What do you think about Binance working with the city of Busan to increase cryptocurrency adoption? Let us know in the comments section below.

Binance to Help South Korean City of Busan Increase Cryptocurrency Adoption, Develop Blockchain Ecosystem – Regulation Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.




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