Binance, a China based coin stock that is the easiest to use, signed a co-operation agreement with the Bermuda government at a press conference on Friday (April 27th).
Under the parties’ agreement, the Binance Charity Foundation has committed to invest $10 million in technological training and $5 million investment in start-up companies participating in the blockchain development process.
At the same time, together with this agreement, Binance and Bermuda Government will jointly prepare the legal framework for the use of cryptocurrency and blockchain technology.
Bermuda Prime Minister David Burt said that this partnership would create new business opportunities in Bermuda and that the legal regulations on the development of cryptocurrency trading platforms in Bermuda will be carried into effect.
“We want to ensure that Bermuda is the world’s number one venue for organizing this area,” said Binance CEO Zhao Changpeng, who stated that Bermuda is the most accessible location in the world and that the new centers are under construction. Also he said, “We have a reputation to protect, we will protect it. We will work with all the people we believe to represent future growth.”
Known as the coin stock that is easiest to use, Binance has managed to get among the most popular stocks thanks to its fast Bitcoin transfer. In addition to receiving a 0.1 percent commission, it has a strong infrastructure, which increases the demand for users.