Binance Turns to Kazakhstan to Tie Banking with Crypto
Flickr.com
Main page News, Binance

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.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

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."

Binance Suspends Accounts Linked to Kremlin' Gilded Youth: Report

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.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error
Close