Huobi signs agreement with the city of Busan to develop the blockchain industry

Crypto exchange Huobi Global and its local unit Huobi Korea have signed a memorandum of understanding with the government of the South Korean city of Busan on blockchain development. ForkLog said platform representatives.

The partnership provides research, technical, and financial support from Huobi Korea, as well as attracting leading blockchain specialists to the KRX.

Huobi opened a local office in South Korea in 2018. The exchange’s operations are regulated by a licence issued by the country’s Financial Services Commission last year.

“Huobi’s experience in Korea and its contacts with major players in the blockchain industry give the exchange the potential to build a robust DLT ecosystem in the region,” said the trading platform team.

Huobi Korea is also exploring innovative partnerships with other local companies.

Last week, Huobi Group received a license to operate a platform for trading virtual assets from the British Virgin Islands Financial Services Commission.

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