The leading blockchain ecosystem Binance signed an MoU with the City of Busan in South Korea. As part of this MoU, the City of Busan will receive infrastructure and technological support from Binance for the development of the city’s blockchain ecosystem.
Under this agreement, Binance will also promote Busan Digital Asset Exchange. Additionally, Order book sharing will be another means of collaboration between the two parties. Binance also intends to develop and foster Busan City’s blockchain sector in various ways.
The plan includes utilizing Busan’s blockchain regulatory-free zone to encourage blockchain-related businesses, investments, research, and initiatives. At the same time, Binance will also provide specialized blockchain education and online resources from Binance Academy.
Moreover, Binance will advance initiatives that promote societal well-being via Binance Charity, while also helping with the organization of Blockchain Week in Busan in 2022 (BWB 2022).
Binance also aims to gain a foothold in Busan by the end of the year. These initiatives are expected to serve as a driving force for the city to become one of East Asia’s most vibrant digital hubs.
Founder of Binance, Changpeng Zhao (CZ) mentioned that working with the City of Busan will bring tangible blockchain-related developments that benefit and support the city’s innovation efforts.
Mayor of Busan, Heong-Joon Park confirmed the agreement saying, with this agreement we are one step closer to making the Busan Digital Asset Exchange a globally integrated platform asset.
Binance is rapidly positioning itself to grow crypto adoption by supporting digital asset exchanges and various blockchain industries. Recently, Binance.US was awarded a money transmitter license in Nevada.
