Crypto Exchange Binance to Help S. Korean City of Busan Develop Its Blockchain Industry

Binance will provide services and education to support the city's blockchain development.

AccessTimeIconAug 26, 2022 at 4:33 a.m. UTC
Updated May 11, 2023 at 5:35 p.m. UTC

Binance, the biggest cryptocurrency exchange by trading volume, signed a Memorandum of Understanding (MoU) with Busan, South Korea, to help the city develop its blockchain ecosystem and promote the Busan Digital Asset Exchange, Binance said Friday.

  • The MoU includes several services and technological help.
  • Binance will provide Busan with technological and infrastructure support for the development of the city's blockchain ecosystem, promotion of the Busan Digital Asset Exchange and order book sharing.
  • Binance will use Busan's blockchain regulatory-free zone to promote blockchain initiatives and businesses, and provide specialized blockchain education and online resources from Binance Academy.
  • Binance said that it will establish a presence in Busan by the end of the year.
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    Greg Ahlstrand

    Greg Ahlstrand was previously CoinDesk's Asia News Editor. Greg has no significant crypto holdings.