Busan, South Korea’s second most populous city, on August 30 signed a memorandum of understanding (MOU) with global cryptocurrency exchange FTX to help develop a digital asset exchange.
FTX will provide technical and infrastructure assistance to Busan city in establishing the digital asset exchange.
The Sam Bankman-Fried backed crypto derivatives exchange is also planning to cooperate with the city in promoting various blockchain projects and partner with local universities in providing blockchain-specific education.
Amy Wu, Head of Ventures and Gaming at FTX, said that FTX will launch its Korea office in Busan next year, and will help the city become Asia’s digital finance hub, according to a press release by the city administration.
The development comes after Binance also announced an MOU with Busan last week for the same purposes.
Busan city was designated as a “blockchain regulatory-free zone” in 2020 where developers can bring blockchain-related proposals or projects to the city government that may not be considered elsewhere in the country due to regulations.
FTX was recently reported to be in talks to purchase Bithumb, one of South Korea’s top five crypto exchanges.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
Author
News
FTX Support Busan Builds Its Own Digital Exchange
Busan, South Korea’s second most populous city, on August 30 signed a memorandum of understanding (MOU) with global cryptocurrency exchange FTX to help develop a digital asset exchange.
FTX will provide technical and infrastructure assistance to Busan city in establishing the digital asset exchange.
The Sam Bankman-Fried backed crypto derivatives exchange is also planning to cooperate with the city in promoting various blockchain projects and partner with local universities in providing blockchain-specific education.
Amy Wu, Head of Ventures and Gaming at FTX, said that FTX will launch its Korea office in Busan next year, and will help the city become Asia’s digital finance hub, according to a press release by the city administration.
The development comes after Binance also announced an MOU with Busan last week for the same purposes.
Busan city was designated as a “blockchain regulatory-free zone” in 2020 where developers can bring blockchain-related proposals or projects to the city government that may not be considered elsewhere in the country due to regulations.
FTX was recently reported to be in talks to purchase Bithumb, one of South Korea’s top five crypto exchanges.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Foxy
CoinCu News
Other Posts
Related Posts
Latest
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Press Release
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!
