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Huobi Global and Huobi Korea announced the signing of a Memorandum of Understanding (MoU) with the administration of Busan Metropolitan City. By the agreement, Huobi Global and Huobi Korea will collaborate closely with the city to grow its blockchain business and support its goal of being a hub for global digital assets. The agreement includes:
- Hiring top blockchain experts from around the world for the Busan local exchange
- Providing R&D
- Technological and financial support for the Busan Digital Currency Exchange
License To Operate In Korea
Since 2019, Huobi has been conducting business in South Korea through a local office. Last year, the Korean Financial Services Commission (FSC) granted Huobi a license to operate a business there. It ranks among the biggest cryptocurrency exchanges, with more than $800 million in daily trading volumes. Busan has previously enlisted the help of crypto exchanges FTX and Binance to assist in its blockchain initiatives as part of a larger aim to establish itself as a significant financial and blockchain center. With deep ties to the Korean blockchain industry, it has developed strong contacts with influential local organizations to build its own blockchain business. Huobi Korea has also investigated new business initiatives with other Korean companies focusing on mutual benefits.
Huobi to Nurture Blockchain Industry Growth
Huobi has long been committed to constructing blockchain infrastructure as a pioneer and industry leader in applying blockchain technology. It has invested in several well-known blockchain initiatives and is open to actively collaborating with high-potential project teams to address pressing issues in the digital economy. Huobi focuses on advancing the blockchain industry by combining the expertise of the Huobi Research Institute and Huobi Academy to provide professional services for the entirety of the blockchain industry's life cycle. Huobi is a one-stop platform that provides blockchain applications and services targeted at different sectors.