On 26th, Gate.io, one of the world’s largest cryptocurrency exchanges signed the Memorandum of Understanding (MoU) with Busan. The agreement entails the cooperation between Gate.io and the Busan Metropolitan City government to develop blockchain infrastructure jointly in Busan.
According to this blockchain ecosystem development agreement, Gate.io will leverage its industry expertise and long-term experience to assist Busan in a variety of ways:
- Support the rollout and promotion of the city’s initiative to develop the blockchain industry locally.
- Assisting in the development, operation, and distribution of the city’s stablecoin.
- Helping to establish and operate the Busan Digital Asset Exchange and ISMS-certified technical platforms.
- Establishing a blockchain and digital asset-related education centre in the city to bolster the local skilled talent pool.
Since Busan was approved as a “regulation-free blockchain zone” by the Government of South Korea in 2019. The city launched an initiative to develop a local blockchain hub and a project to form a digital asset exchange and has recently signed MoU with crypto exchanges like Binance. Established in 2013 and owning over 12 million global users, Gate.io became the 4th leading crypto exchange to assist Busan in all areas of the initiative and project.
A statement from CEO and Founder of Gate.io, Dr. Lin Han highlighted the company’s commitment to and confidence in Korean blockchain industry:
“We are pleased to be collaborating with the City of Busan on a collective journey to forge a true blockchain city that will fuel the local blockchain industry. The city’s robust approach to blockchain technology, combined with our industry expertise, will help solidify the city as a blockchain leader. We are committed to building a thriving digital asset ecosystem that will set an example and further crypto adoption in South Korea and abroad.”
Gate.io also unveiled that it plans to grow its South Korean operations beyond Busan to stimulate the blockchain industry’s growth and enhance its services country-wide.
Currently, Gate.io is participating in the Blockchain Week in Busan (BWB) event from October 27 to 29. On BWB 2022, Gate.io will deliver a keynote speech about how to bridge blockchain technolody to everyday life, and showcase its blockchain solution and ecosystem in the Gate.io booth.