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

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

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.

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

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

By Greg Ahlstrand
AccessTimeIconAug 26, 2022, 4:33 AM
Updated May 11, 2023, 5:35 PM
Busan City, South Korea (Getty Images)
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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.

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