<p>Binance, one of the largest companies in the global blockchain ecosystem, confirmed today that it has <a href="https://www.prnewswire.co.uk/news-releases/binance-signs-mou-with-the-city-of-busan-to-further-foster-blockchain-industry-development-876597216.html" target="_blank">partnered</a> with the City of Busan in South Korea to drive the adoption of innovative technologies in the South Korean city.</p><p>The city of Busan will receive technical support and infrastructure from Binance for the development of its blockchain ecosystem. Additionally, the city is aiming to promote the Busan Digital Asset Exchange to facilitate participants in the crypto economy.</p><p>By the end of this year, Binance is planning to establish its presence in Busan. The crypto exchange has a strong presence in the Asian region.</p><p>Changpeng Zhao, the CEO and Founder of Binance, said: "We are happy to be working with the City of Busan to bring tangible blockchain-related developments that benefit and support the city's innovation efforts. Through our industry-leading position and technological expertise, combined with the City of Busan's strong support for the blockchain industry, we hope to help grow crypto adoption within the city and beyond. We look forward to our close cooperation with the city to support the establishment of digital asset exchanges and various blockchain industries."</p><p>Last month, Binance became the digital exchange with the largest Bitcoin <a href="https://www.financemagnates.com/cryptocurrency/news/binance-now-holds-more-bitcoin-than-coinbase/" target="_blank">holdings</a>. Moreover, the company <a href="https://www.financemagnates.com/cryptocurrency/news/binance-obtains-vasp-registration-in-spain/" target="_blank">received VASP registration in Spain</a> during the same month.</p><p>South Korea</p><p>South Korea is one of the biggest economies in Asia. The country is among the early adopters of crypto and blockchain technology in the world. With the recent partnership with Binance, the city of Busan is planning to strengthen its position as a digital finance hub.</p><p>Heong-Joon Park, the Mayor of Busan, said: "With this agreement, we are one step closer to establishing the Busan Digital Asset Exchange as a globally integrated platform for digital assets. By making Busan a blockchain-specialized city that is attracting worldwide attention, we will boost a new growth engine for the local economy and make it a global digital finance hub.”</p>
This article was written by Bilal Jafar at www.financemagnates.com.
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