Binance to Assist South Korean City in Developing Its Blockchain Ecosystem

Binance to Assist South Korean City in Developing Its Blockchain Ecosystem

Binance is giving a helping hand to the South Korean city of Busan, to expand and develop its blockchain ecosystem. 

Binance, one of the largest crypto exchanges established in 2017, has signed a Memorandum of Understanding (MoU) with the city of Busan, aiming to be a part of their blockchain development journey. 

According to the blog post shared by the company on August 26th, Binance will assist Busan by providing technological and infrastructural support to the city, as well as promoting its Digital Asset Exchange.

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More specifically, the company pledged to launch several educational and online resources concerning blockchain education using Binance Academy. It will help Busan to organize upcoming Blockchain week and use Binance Charity to “promote societal well-being”

Lastly, the company promised to promote various blockchain businesses and initiatives, as well as to sponsor blockchain-related research

Binance CEO and Founder Changpeng Zhao (also known as CZ) shared his excitement by stating:

We are happy to be working with the City of Busan to bring tangible 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’s strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond.

Moreover, the CEO used Twitter to share the news with his followers stating that Binance was the first to sign a blockchain MOU for Busan. 

Busan Mayor Heong-Joon Park, when talking about the partnership, notes that he hopes to make Busan a global digital financial hub. 

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 is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub.

Binance noted that by the end of the year, it will establish its presence in the city. 

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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