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.
Platform Binance specializing in exchange cryptocurrencies plans to develop and support the blockchain industry in Busan City in several ways, including the use of the Blockchain Regulatory Free Zone of Busan promote blockchain initiatives and businesses, support blockchain-related research and investment in the city, provide specialized blockchain education and online resources from Binance Academy, support initiatives that support the welfare of society through Binance Charity and by helping to organize Blockchain Week in Pusan.
Busan, the future hub of crypto-blockchain
Changpeng Zhao, CEO and founder of Binance, welcomes this collaboration with the second most populous city in South Korea after Seoul:
We are pleased to work with the city of Busan to bring concrete blockchain-related developments that benefit and support the city’s innovation efforts. With our industry leadership and technological expertise combined with the city of Busan’s strong support for the blockchain industry, we hope to help increase cryptocurrency adoption in the city and beyond. We look forward to working closely with the city to support the establishment of digital asset exchanges and various blockchain industries.
Heong-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 making Busan a blockchain city that attracts global attention, we will fuel a new growth engine for the local economy and make it a global center for digital finance.
FTX bets on the Busan project
Under the same agreement signed with Binance, cryptocurrency exchange FTX will work with Busan to support various blockchain businesses and establish the Busan Digital Asset Exchange to make Busan a global digital financial city. The city will also be able to count on the technological and infrastructural support of FTX to create the Busan Digital Asset Exchange.
Amy Woo, CEO of FTX’s investment division, said:
Next year, we plan to establish a Korean branch of FTX in Busan, and FTX will actively cooperate so that Busan can become a digital financial center in Asia.