As Huobi Global joins the development environment, South Korea’s “blockchain” city of Busan continues to sign deals with major players in the cryptocurrency business, as reported by Cointelegraph.
According to Cointelegraph, the Busan Metropolitan City government and Huobi Global and its Korean office have signed a memorandum of understanding to collaborate on the development of the city’s blockchain business.
An official statement from Huobi states that as part of the cooperation, the business will support the Busan Digital Currency Exchange financially, technologically, and in terms of research and development. Huobi will also help the local exchange in Busan find and hire blockchain experts.
The South Korean Financial Services Commission granted Huobi an obligatory regulatory licence in 2021, and the company has been running a local office there since 2019. To help Busan achieve its objective of becoming a major cryptocurrency and blockchain centre, the company points to its operating experience within the nation.
“We believe that Busan has strong attributes for fostering innovation and growth, and share their belief that blockchain technologies can transform and benefit traditional industries.”
As per Cointelegraph, Busan has signed an agreement with Sam Bankman Fried’s digital asset trading platform in August 2022 to assist in the growth of Busan’s exchange.
(With insights from Cointelegraph)
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