Busan will receive technology and infrastructure support from Binance and FTX to develop the blockchain ecosystem in South Korea’s major port city and promote the Busan Digital Asset Exchange.
Cryptocurrency exchange platform Binance plans to develop and encourage the blockchain industry of Busan City in several ways, including using the Busan Blockchain Free Regulatory Zone to promote blockchain initiatives and businesses, support blockchain-related research and investment in the city by providing specialized blockchain training and online – Binance Academy resources promoting community welfare initiatives through Binance Charity and helping organize Busan Blockchain Week.
Busan, Future Crypto Blockchain Hub
Changpeng Zhao, CEO and founder of Binance, welcomes this collaboration with the second most populous city in South Korea after Seoul:
We are excited to work with the City of Busan to implement specific blockchain-related developments that benefit and support the city’s innovation efforts. With our industry-leading position and technology expertise, coupled with Busan City’s strong support for the blockchain industry, we hope to help increase the adoption of cryptocurrencies in the city and beyond. We look forward to our close collaboration with the city to support the creation of digital asset exchanges and various blockchain industries.
Hong-Joon Park, mayor of Busan, adds:
With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a global, integrated platform for digital assets. By turning Busan into a blockchain city that attracts the attention of the whole world, we will launch a new engine for the growth of the local economy and make it a global center for digital finance.
FTX bets on Busan project
Based on the same agreement signed with Binance, FTX cryptocurrency exchange will work with Busan to promote various blockchain ventures and establish the Busan Digital Asset Exchange to make Busan a global digital financial city. The city will also be able to count on FTX’s technology and infrastructure support to build the Busan Digital Asset Exchange.
Amy Wu, CEO of FTX’s investment arm, said:
We plan to open a Korean branch of FTX in Busan next year, and FTX will actively cooperate so that Busan can become a digital financial hub in Asia.