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

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.