The world’s leading virtual asset exchanges have decided to help establish the Busan Digital Asset Exchange one after another. Binance and FTX, which compete for the world’s No. 1 and No. 2 exchanges, have signed related business agreements with the Busan Metropolitan Government one after another, and are also reportedly pushing for business agreements with two to three exchanges.

Busan City announced on the afternoon of the 30th that it signed a business agreement with FTX, the world’s leading virtual asset exchange, to foster the blockchain industry in Busan and establish the Busan Digital Asset Exchange. Busan City previously signed a similar business agreement with Binance, another global virtual asset exchange, on the 26th.

Binance is the world’s largest global blockchain infrastructure company and the world’s largest virtual asset exchange. FTX is also the world’s second largest virtual asset exchange after Binance, and is also the largest non-Chinese exchange.

Through a series of business agreements, Binance and FTX promised to contribute to various blockchain businesses to be promoted in Busan in the future.

In particular, the two exchanges support the technology and infrastructure of the two companies to the Busan Digital Asset Exchange, which is being established by the Busan Metropolitan Government. After the establishment of the Busan Digital Asset Exchange, it is also planning to promote cross listing and sharing of order books. Orderbook sharing is a virtual asset business entity mediating transactions between its customers and customers of other virtual asset businesses, which allows customers of the Busan Digital Asset Exchange to purchase virtual assets listed on Binance or FTX.

In addition, the two exchanges decided to open various blockchain-specific curriculums in connection with universities in Busan. In the process, Binance also provides Akaday online content and internship programs.