Binance partners with Busan, South Korea to promote blockchain industry infrastructure development

On August 26, 2022, the CEO of the world’s largest cryptocurrency exchange Binance announced a Memorandum of Understanding (MoU) to develop a blockchain ecosystem with Busan City in South Korea.

According to the cooperation agreement, Binance will support Busan city in terms of blockchain infrastructure and technology platform to develop Busan digital asset exchange and ecosystem. In addition, the cooperation agreement between the two parties will later share the user file and the order book (Order Book).

During the cooperation signing ceremony, CZ (Changpeng Zhao), Founder of Binance spoke about the future expectations between the two parties that:

“We are pleased to partner with the City of Busan to bring beneficial blockchain-related tangible developments and support the city’s innovation efforts. Through Binance’s industry-leading position and technological expertise, combined with Busan City’s strong support for the blockchain industry, we hope to help grow cryptocurrency adoption in city ​​and more. We look forward to working closely with the city to support the establishment of digital asset exchanges and other blockchain industries.”

Additionally, Binance plans to set up a representative office in Busan by the end of the year, with the vision that it will act as the driving force behind the city becoming one of East Asia’s most vibrant digital hubs. .

Speaking about this important cooperation, the mayor of Busan – Mr. Heong-Joon Park said:

“With this agreement, we are one step closer to establishing the Busan digital asset exchange as a globally integrated platform. By making Busan a blockchain city that is gaining worldwide attention, we will spur a new growth engine to the local economy and transform it into a financial hub. global digital.”

In addition to the cooperation agreement signed with Busan city, this time CZ’s visit to Korea is to participate in the Korea Blockchain Week event. This is the meeting place of the largest blockchain projects in Korea, famous blockchain experts, researchers, KOLs like Vitalik Buterin – the founder of Ethereum, opening many cooperation opportunities for major cryptocurrency exchanges. this most.