Crypto.com, Gate.io Follow Binance into Busan: South Korea's Blockchain Hub Takes Shape

South Korea’s Busan is rapidly transforming into a global blockchain hub, attracting major players in the cryptocurrency industry. Following in the footsteps of Binance, FTX, and Huobi Global, leading crypto exchanges Crypto.com and Gate.io have signed agreements to partner with the city, further solidifying Busan's commitment to becoming a leading blockchain ecosystem. Crypto.com and Gate.io are now the fourth and fifth international Bitcoin exchanges to collaborate with Busan, demonstrating the city's growing influence in the digital asset space.

One of South Korea’s largest cities, Busan, has been working diligently to become the next major blockchain hub, and these partnerships are a testament to its progress. The South Korean city of Busan wants to create a city-run crypto exchange, a bold initiative that underscores its ambition. Leading crypto exchanges Gate.io and Crypto.com have decided to support this vision, signing collaboration deals with the centralized exchange (CEX) giants.

Busan's Crypto Ambitions: More Than Just an Exchange

South Korea's second Largest City, Busan, has partnered with two popular cryptocurrency exchanges Crypto.com and Gate.io. These agreements will see Crypto.com and Gate.io contribute their expertise and resources to help Busan develop its blockchain infrastructure, foster innovation, and attract new talent to the region. Back in August, Binance signed a memorandum of understanding (MoU) with Busan, South Korea, to help the city develop its blockchain ecosystem and promote the Busan Digital Asset. The combined efforts of these exchanges are expected to accelerate Busan's journey to becoming a true blockchain powerhouse.

The collaboration extends beyond simply launching a crypto exchange. Busan envisions a comprehensive ecosystem that includes blockchain education, research and development, and the development of innovative blockchain-based applications. The influx of expertise and investment from Crypto.com, Gate.io, and Binance will play a crucial role in realizing this vision.

Crypto.com and Gate.io: Key Players in Busan's Blockchain Future

The commitment from Crypto.com and Gate.io underscores the global appeal of Busan's blockchain initiative. These exchanges bring valuable experience and a global perspective, further enhancing Busan's attractiveness to international investors and entrepreneurs in the blockchain space.