S. Korea’s Busan Partners With FTX To Create Blockchain Businesses

• Busan strikes a partnership with FTX to drive blockchain development.
• This follows Busan’s recent partnership with another leading crypto exchange, Binance.
• Busan also hopes to establish its local crypto exchange platform with these partnerships.

One of South Korea’s port cities and the country’s second-largest city, Busan, has entered into a partnership with FTX for the purpose of facilitating the integration and growth of enterprises focused on blockchain technology and cryptocurrencies.

The growth of Busan’s cryptocurrency ecosystem will be pushed via this partnership, which will make Busan a center of interest for cryptocurrency enthusiasts all over the world.

The city of Busan will also launch its own local cryptocurrency exchange called Busan Digital Asset Exchange using FTX’s platform and technology.

Busan is no stranger to working with leading crypto exchanges: the Korean metropolis previously inked a deal with Binance as it explored the financial and non-financial benefits of blockchain technology for identity documents, vouchers, and a tokenized local currency.

The Mayor of Busan, Park Hyung-jun, has indicated that he would not give up on his attempts to make Busan a center for blockchain technology and will provide a boost to the economy of the local area by establishing the Busan Digital Asset Exchange.

In his words:

With this agreement, we will help establish the Busan Digital Asset Exchange and secure a new growth engine for the local economy.

South Korea continues to demonstrate that it has what it takes to establish itself as a center of some significance within the cryptocurrency industry on a global scale. This is something that has created and continues to create a significant chasm between it and the American and European coasts, where regulatory concerns at every level are still prioritized above capitalizing on the opportunities presented by this technology.