FTX to help Korean city build crypto exchange

FTX has signed a memorandum of understanding (MOU) with South Korea’s second most populated city, Busan, to help build a crypto exchange.

To establish a digital asset exchange in Busan city, FTX will provide initial and infrastructure assistance.

The crypto exchange will cooperate in promoting blockchain projects and partner with local universities to provide blockchain-specific education.

FTX head of ventures and gaming Amy Wu said that the company will help the city become Asia’s digital finance hub and launch its Korea office in Busan next year.

In 2022, Busan city was appointed a “blockchain regulatory-free zone” where developers could bring ideas, projects and blockchain-related proposals that might not be considered in other parts of the country, to the city government.

Recently, Binance also announced it had signed an MOU with Busan city.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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