Binance has struck a deal with a South Korean city to help build a local blockchain infrastructure. This is one of the first initiatives of its kind, after the brokerage started a dialogue with politicians from around the world.
In Brazil, for example, the CEO of Binance He recently visited and spoke with the mayor of Rio de Janeiro, Eduardo Paes, where he won a key to the city and indicated the creation of a local office.
In this way, the largest stockbroker in world volume indicates that it should approach the municipalities, helping them in their plans with cryptocurrencies and blockchain.
Binance Reaches Agreement with South Korean City to Build Blockchain Infrastructure
In a statement sent to cryptoreportBinance announced that a Memorandum of Understanding (MoU) has been signed with the city of Busan in South Korea.
As part of the agreement between the corridor and the city, technological and infrastructure support will be provided to accelerate the development of the local ecosystem.
In addition, there will be the promotion of the Busan Digital Asset Exchange, which indicates that it is a broker in the city, which if confirmed could be the first in the world. Another form of cooperation between the parties will be the exchange of an order book.
For Heong-Joon Park, mayor of Busan, the agreement indicates a breakthrough for cryptocurrencies in the South Korean city.
“With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as an integrated global platform for digital assets. By making Busan a specialized blockchain city, drawing global attention, we will fuel a new growth engine for the local economy and make it a global hub for digital finance.”
Binance CEO was happy with the initiative
Initially, the agreement provides for five points of support for Binance to the cryptocurrency and blockchain ecosystem of the city of Busan.
One of them will be to use the Busan blockchain regulation-free zone to promote business in the sector. In addition, blockchain-oriented research and investment in the city will be supported.
Blockchain education using Binance Academy’s online tools will be encouraged, as well as support in organizing a citywide event on the topic in 2022.
Through Binance Charity, initiatives that promote the social welfare of the local population will be implemented. In a note, the CEO of Binance was happy with the deal made with Busan.
“We are happy to work with the City of Busan to bring concrete Blockchain-related developments that can benefit and support the city’s innovation efforts. Through our industry leadership position and technological expertise, combined with the strong support the city of Busan has provided to the blockchain industry, we hope to help the growth of crypto adoption in this and other cities. . We hope that our cooperation with the city will attract digital asset exchanges and various blockchain institutions.”
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