South Korea’s city Busan has partnered with the crypto exchange Huobi Global and its sister firm Huobi Korea to develop its local blockchain infrastructure.
Heong-Joon Park, mayor of Busan commented that Busan is glad to have partnered with Huobi and enhance the growth of the city’s blockchain ecosystem.
Park added, “As a blockchain regulation-free zone, Busan offers a conducive environment to develop the latest digital financial technologies, which has attracted many blockchain companies from across the world.”
As a part of the current deal, Huobi Global and Huobi Korea have agreed to work closely with the Busan Metropolitan City to develop its budding blockchain industry.
The signed Memorandum of Understanding (MoU) also discusses both the parties partnering in research and development, technology and financial support for the Busan Digital Currency Exchange, along with carrying out the recruitment of blockchain-related talent for the Busan local exchange.
Recently, Busan and Binance signed a deal with the aim of facilitating the blockchain ecosystem and also to promote the Busan Digital Asset Exchange.
However, back in August, the city’s blockchain hub team was reportedly less than five employees working out of a shared office space.
Also Read: Chinese Official Proposes Boosting Blockchain Infrastructure
