South Korea’s second-largest city aims to become a crypto hub

The second-largest city in South Korea, Busan, is making efforts to position itself as a crypto hub. Busan city officials believe that by embracing cryptocurrency, the city can attract young people, technology startups, and investment from venture capital firms.

The city has entered into memorandums of understanding with several of the world’s largest cryptocurrency exchanges, including Binance Holdings Ltd., to launch the Busan Digital Asset Exchange by the end of this year.