The world’s largest cryptocurrency exchange, Binance, has agreed with the South Korean city of Busan to develop the city’s blockchain infrastructure.
While building Busan’s blockchain infrastructure, Binance will also help to increase cryptocurrency adoption and business development.
Binance Signs Blockchain Partnership With Busan
Binance CEO Changpeng Zhao used the following statements in a statement on the subject.
“We are delighted to be working with the City of Busan to deliver tangible blockchain-related improvements that benefit and support the city’s innovation efforts.
We hope to help increase the use of crypto within the city and beyond, with the City of Busan’s strong support for the blockchain industry through our industry-leading position and technological expertise.”
In addition, Binance is helping the city set up digital asset exchanges within the city through “regulation-free zones”.
Busan Mayor Park Heong Joon said in a statement:
“With this agreement, we are one step closer to establishing Busan Digital Asset Exchange as a global integrated platform for digital assets.
By making Busan a city specializing in blockchain, we will transform the city into a global digital financial center while helping the local economy grow.”
Chosun Ilbo, one of the country’s local newspapers, noted that Binance plans to open an office in Busan this year.
