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Crypto Exchange Binance to Help S. Korean City of Busan Develop Its Blockchain Industry

Binance will provide services and education to support the city's blockchain development.

Busan City, South Korea (Getty Images)
Busan City, South Korea (Getty Images)

Binance, the biggest cryptocurrency exchange by trading volume, signed a Memorandum of Understanding (MoU) with Busan, South Korea, to help the city develop its blockchain ecosystem and promote the Busan Digital Asset Exchange, Binance said Friday.

  • The MoU includes several services and technological help.
  • Binance will provide Busan with technological and infrastructure support for the development of the city's blockchain ecosystem, promotion of the Busan Digital Asset Exchange and order book sharing.
  • Binance will use Busan's blockchain regulatory-free zone to promote blockchain initiatives and businesses, and provide specialized blockchain education and online resources from Binance Academy.
  • Binance said that it will establish a presence in Busan by the end of the year.

Read more: Busan to Build Its Own Digital Asset Exchange

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Greg Ahlstrand

Originally from California, I've been Asia-based since 1999, headquartered in Hong Kong and Jakarta and traveling throughout the Asean countries, Japan, Korea, the Chinese mainland and Taiwan for stories. Made Australia a couple of times, too. I started my journalism career as a news assistant at the Fresno Bee in Central California while studying the subject in school after the Navy. I went from launching and recovering helicopters on flight decks at sea to recovering papers fresh off the printer in the Bee's basement and launching them onto the editors' desks, whose editors had long since gone home for the night. Eventually, they let me stop delivering the paper and start writing stuff in it. My first beat was night cops: liquor store robberies, gang shootings, fatal car crashes (almost always alcohol related). It was an education. I am, as implied above, a U.S. Navy veteran. I served in seagoing helicopter squadrons as an aviation anti-submarine warfare technician throughout the Asia Pacific region and the Indian Ocean. I have a significant number of sailor stories to tell. I have no significant crypto holdings. Among my hobbies are welding, building stuff, home remodelling, (or knocking a house down and starting from scratch if it's too far gone to fix), riding horses and rebuilding old tractors. So far I've done a Ford 8N and a Ford 9N. It's slow going, because I live in Hong Kong and the tractors are in California, so I only get to work on them once or twice a year, for a week or two at a time - and that was before covid. I love my Lab, Cooper, whom my neighbors asked me to adopt two years ago when they moved back to Shanghai from Hong Kong. Cooper and I actually planned the whole thing -- we've known each other almost his whole life -- but his first parents are unaware of the conspiracy; and they send him Christmas presents every year.

Greg Ahlstrand