Huobi Signs Agreement with Busan to Develop Blockchain Industry

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Crypto exchange Huobi Global and its local subsidiary Huobi Korea have recently signed a memorandum of understanding (MoU) with the government of the Korean city of Busan in order to develop the blockchain ecosystem in the city.

According to company representatives, the partnership provides research, technology and financial support to Huobi Korea, as well as attracting leading blockchain experts to KRX.

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

According to the platform:

“Huobi’s experience in Korea and contacts with major players in the blockchain industry gives the exchange the potential to build a robust DLT ecosystem in the region.”