Binance Turns to Kazakhstan to Tie Banking with Crypto
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Cryptocurrency exchange Binance has signed a memorandum of understanding (MoU) with Kazakhstan's Ministry of Digital Development, Innovations and Aerospace Industry as the exchange is seeking opportunities to expand its services in the region.

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The exchange said in a blog post that as part of the MoU it will support Astana Hub among "local and international talent, which will allow the creation of a regional blockchain hub." Binance CEO Changpeng Zhao says Kazakhstan is "one of the world leaders in the crypto mining industry." He added:

"The country was one of the first in the world to introduce the legalization of mining. We believe that, in full cooperation with the local authorities, Binance can make a great contribution to the development of the local crypto community and blockchain ecosystem in Kazakhstan."

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While it's unclear how exactly Binance wants to profit from the partnership, it said that the MoU will help it to integrate banking infrastructure within the cryptocurrency market.

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