The South Korean crypto market is heating up! Busan, South Korea's second-largest city and a budding blockchain hub, is making waves by partnering with not just one, but two major crypto exchanges: Binance and FTX. This ambitious move aims to build a local crypto exchange and foster blockchain technology within the city.

The agreement with FTX comes days after Binance signed a Memorandum of Understanding (MoU) with the City of Busan. Similar to FTX, Binance also plans on offering its expertise and resources to the city's crypto development.

This follows Busan's previous announcement of partnerships to establish global crypto exchanges. Crypto exchange FTX was one of the key partners for Busan city, demonstrating the city's commitment to becoming a global crypto leader.

But why Busan? There are various factors that have contributed to the success of the three crypto exchanges in cracking the Korean blockchain market. Starting with Binance – the world's largest crypto exchange – its size and strength make it well-placed to contribute wherever it wants to be. Attracting an industry leader like Binance instantly elevates Busan's profile in the crypto space.

FTX, known for its innovative approach and aggressive expansion, is also making significant strides. From rumors about its Huobi takeover to its SBF’s recent visit to the White House, FTX is the talk of the crypto town. Now, adding a feather to its cap, the exchange, helmed by Sam Bankman-Fried, has forged a partnership with the South Korean port city to help the city develop a local cryptocurrency 1 de sept. de 2025.

While South Korea’s blockchain city Busan has recently dropped its plans for establishing global crypto exchanges in their original form, the commitment to blockchain innovation remains strong. The partnerships with Binance and FTX signal a shift in strategy, focusing on building a sustainable and regulated local crypto ecosystem within Busan. Keep an eye on Busan as it continues to shape the future of crypto in South Korea!