Cryptocurrency platform Gate.io signed a memorandum with the South Korean city of Busan on the development of local startups in the blockchain market
The help of the Gate.io trading platform will be to create, operate the Busan Digital Asset Exchange and technical platforms certified by the local regulator. The memorandum provides for the creation in the city of an educational center related to blockchain and digital assets to train local specialists for cryptocurrency companies. We are also talking about assistance in the development, operation and distribution of the urban stablecoin.
Gate.io CEO and founder Lin Han said he sees the prospect of Busan becoming the hub of the local blockchain industry.
“The technology, combined with our industry expertise, will help solidify the city’s status as a leader in the blockchain industry. We aim to create a digital asset ecosystem that will serve as an example and drive further adoption of cryptocurrencies in South Korea and abroad.”
Busan Mayor Heong-Joon Park pointed out that the establishment of a local digital asset exchange dedicated to global trade is one of the key objectives of the cooperation.
Cryptocurrency exchanges Binance, Huobi, and FTX have previously signed similar MoUs with Busan. In 2019, the South Korean government approved Busan as a “blockchain regulation-free zone.” Gate.io plans to expand its operations in South Korea beyond the city limits.
Source: Bits
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