Binance and South Korean Busan are going to jointly develop the blockchain industry

The largest crypto exchange on the planet signed a cooperation agreement with a city in South Korea to develop the blockchain industry and facilitate the launch of a local digital asset exchange

As part of the agreement, the city of Busan will receive technological and infrastructure support from Binance to develop the city’s blockchain ecosystem and launch a digital asset exchange.

“With the agreement with Binance, we are one step closer to building the Busan Exchange, a global, integrated platform for digital assets. Together, we will create a new engine of growth for the local economy and make Busan the center of digital finance in South Korea,” explained Mayor Heong-Joon Park.

Binance plans to provide access to the online resources of Binance Academy for training, assist cities in the field of blockchain technology research, and help promote business initiatives.

In addition, the exchange team announced that it will help organize Busan Blockchain Week (BWB 2022), and plans to open a local representation of its trading platform in the city by the end of the year.

Another element of cooperation will be partnership with Busan universities and charitable assistance from the Binance Charity Foundation.

In early 2021, Binance announced its intention to close a division in South Korea due to low liquidity, and in mid-August of the same year, the cryptocurrency exchange stopped trading pairs with the Korean won and significantly limited other services for residents of the country at the request of regulators.

Source: Bits

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