Crypto exchange Huobi Global and its local counterpart Huobi Korea have signed a memorandum of understanding with the city of Busan to develop the city's local blockchain infrastructure, the company said on Wednesday.
“The City of Busan is pleased to partner with Huobi to foster the growth of our blockchain ecosystem,” Busan Mayor Park Heong-joon said in a statement. “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.”
Huobi Global and Huobi Korea will work closely with the city to develop its nascent blockchain industry by providing research and development, technology and financial support to the Busan Digital Currency Exchange, and helping to recruit workers for the exchange.
Huobi has been operating in South Korea through a local office since 2019, where it is regulated under a license issued by the Korean Financial Services...
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