Binance and Busan signed a Memorandum of Understanding (MoU) whereby Binance will provide services and education to support the city’s blockchain development.
Binance, the biggest cryptocurrency exchange by trading volume, signed an MoU with Busan, South Korea, to help the city develop its blockchain ecosystem and promote the Busan Digital Asset Exchange, Binance said in announcement Friday.
The Memorandum of Understanding (MoU) with Busan 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.