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Memorandum of understanding between Binance and Digital Jersey

13 June 2018 00:00, UTC   |   2105
Memorandum of understanding between Binance and Digital Jersey

“Jersey is one of the first countries in the world to clarify the legal position of cryptocurrency exchanges in 2015. We can provide a permissive sandbox for innovative crypto businesses to thrive without moving away from the generally high standards of regulation that apply in our jurisdiction. We look forward to collaborating with Binance to develop their exchange in Jersey, deliver blockchain training as part of our digital skills programme and support the growth of new startups in this area,” said Tony Moretta, CEO of Digital Jersey.

Binance has selected Jersey for its highly developed digital infrastructure and world-class financial services sector. The government of Jersey clearly understands the advantages of developing blockchain technology on the island.

Zhao Changpeng, CEO of Binance indicated that “We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP) and its close proximity to the UK and Western Europe, we are confident the cooperation with Jersey will not only benefit the local economy but also form a strong operational foundation for our expansion into the rest of Europe.”

Digital Jersey is to collaborate with Binance on developing blockchain ecosystem in Jersey. Digital Jersey will also support Binance in discussions on anti-money-laundering regulations. Binance Labs intend to invest $100 million in Jersey-based blockchain startups to encourage local digital economy and helps Jersey become a new digital center in the world.

Image: wise.com

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