Backdrop of Busan at night and, logos, to boost Busan’s blockchain aspirations

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Busan, South Korea’s second-largest city and its wannabe blockchain central, is signing business agreements with two global cryptocurrency exchanges, and, to grow the city’s blockchain ecosystem, according to an announcement on Wednesday.

See related article: South Korea’s Busan city wants to be blockchain central. Did everyone get the memo?

Fast facts

  • As part of the agreement, and will establish regional offices in Busan and provide technology and infrastructure support to the city in building its first city-backed cryptocurrency exchange.
  • pledges to support the growth of local blockchain startups, while plans on training a thousand local blockchain professionals annually.
  • and mark the fourth and fifth global cryptocurrency exchanges to sign with Busan, following Binance, FTX and Huobi Global.
  • Busan was designated as a “special blockchain regulation-free zone” in 2019, which allows blockchain developers to bring forth projects or ideas to the city government that might be restricted elsewhere in Korea due to regulations.
  • With the designation, Busan is hoping to establish itself as the digital hub of Asia.
  • and representatives will participate in the Blockchain Week in Busan (BWB) event, which features keynote speeches from global crypto leaders and over 300 booths of blockchain tech firms. The event takes place from Oct. 27 to Oct. 29.

See related article: Huobi becomes third global exchange to sign with S.Korea’s Busan city

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