Binance cryptocurrency exchange has announced it has signed a new partnership agreement through a Memorandum of Understanding with the government of Kazakhstan. The trading platform said the partnership will enable it to focus on helping the government with respect to its push for bringing innovative regulations into the cryptocurrency ecosystem.
The signing took place while Binance’s Chief Executive Officer, Changpeng Zhao paid an official visit to Kazakhstan where he met with President of Kazakhstan Kassym-Zhomart Tokayev, First Deputy Chief of Staff of the President of Kazakhstan, Timur Suleimenov, and Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, Bagdat Musin.
“Growing crypto adoption around the world, to have a positive impact on society as a whole, is one of our primary goals,” – said Changpeng Zhao (CZ), founder and CEO of Binance. “Kazakhstan is one of the world leaders in the crypto mining industry. 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 to Bolster Kazakhstan’s Interest in Digital Currencies
The MOU between Binance and the Government of Kazakhstan will effectively help in developing the digital currency ecosystem in the country.
While it is unclear whether Binance will set up a regional headquarters in the country as it did in Dubai and France and joined the Banking association in Russia, there is a confirmation that a blockchain-powered VC fund and academy will be introduced in due course.
“As a global leader among crypto exchanges, Binance takes responsibility for the whole ecosystem. Together with CZ, we considered the Binance roadmap in Kazakhstan. We also discussed the potential of creating a blockchain-oriented VC-fund and academy to help local talents from Astana Hub to go global. We really believe Kazakhstan can become a regional hub for international players in the crypto world,” said Bagdat Musin.
Binance is walking the talk with which it wants to enhance its relationship with regulators. The move with Kazakhstan is one more way the firm has shown the world how committed it is to this goal.