South Korea’s “blockchain” city of Busan continues to establish agreements with cryptocurrency industry heavyweights as Huobi Global enters the development ecosystem.
Huobi Global and its Korean branch became the latest exchange to sign a memorandum of understanding with the Busan Metropolitan City government to participate in the growth of its blockchain industry.
According to an official announcement from Huobi, the partnership will see the company provide research and development, technology and financial support for the Busan Digital Currency Exchange. Huobi is also set to assist in identifying and hiring blockchain talent for Busan’s local exchange.
Huobi has been operating a local office since 2019 and received a mandatory regulatory license from the South Korean Financial Services Commission in 2021. The company cites its operational experience within the country as an important factor in assisting Busan’s goal of becoming a global cryptocurrency and blockchain hub.
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