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Binance Signs MoU With City of Busan To Promote Blockchain


Binance Signs MoU With City of Busan To Promote Blockchain
  • The trading platform will help promote the Busan Digital Asset Exchange.
  • Binance and Busan will also share their respective order books.

The arrival of Binance, the biggest cryptocurrency exchange in the world, in South Korea is eagerly anticipated. Binance has inked a memorandum of understanding with the city of Busan in South Korea to promote blockchain use, albeit the nature of the expansion is yet unclear. This cryptocurrency trading platform will help promote the Busan Digital Asset Exchange and contribute to the growth of the city’s blockchain ecosystem.

On August 26, Binance CEO “CZ” tweeted that he had met with Busan Mayor Park Heong-joon to sign an MOU to promote the Busan Digital Asset Exchange and help in the growth of Busan’s blockchain ecosystem.

CZ tweeted:

“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. We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries.”

On the Lookout For Expansion

CEO “CZ” is trotting the globe in search of new markets to establish a foothold via mergers and strategic alliances. Business and cryptocurrency adoption might benefit from Binance’s planned expansion into South Korea.

The crypto trading platform will aid the city of Busan in implementing blockchain technology by providing the necessary infrastructure and technical assistance. As part of the pact, Binance and Busan will also share their respective order books.

Binance will also support projects and enterprises operating in the blockchain regulatory-free zone in Busan. Furthermore, it will help fund initiatives in the city that explore and use blockchain technology. In addition, they will be assisting with the organization of Blockchain Week in Busan (BNB 2022) and working to improve social well-being via Binance Charity.

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