Digital Jersey has teamed up with Binance. By signing the MOU, the two companies are committed to launching a suitable environment for the future crypto exchange based on the island of Jersey.
The independent organization Digital Jersey, which is the image of the island’s “digital industry“, has signed the MOU- memorandum of understanding with Binance, the world’s largest cryptocurrency exchange, according to 24-hour trading. The announcement was made on 11 June.
The companies will focus on the digital development
The Jersey-based company will collaborate with Binance to enhance the promotion of digital skills and blockchain-based technology across the island. Also, the firm based in Jersey is committed to supporting the crypto exchange in the future regulations on AML standards and to provide Binance the necessary authorization to carry out its activities legally.
As reported by Digital Jersey, the Government of Jersey and the Jersey Financial Services Commission will support the future projects that combine advanced technology.
Tony Moretta, Chief Executive Officer of Digital Jersey stated:
“We can provide a permissive sandbox for innovative crypto businesses to thrive without moving away from the general high standards of regulation that apply in our jurisdiction. We look forward to collaborating with Binance to develop their exchange and compliance function in Jersey, deliver blockchain training as part of our digital skills program and support the growth of new startups in this area.”
Through this collaboration, Digital Jersey aims to create 40 new jobs in the IT industry. The investments made in upcoming startups based on Jersey Island will be managed via Binance Labs.
As previously reported by Coindoo, Binance is going to add a fiat-crypto trading pair to its subsidiary based in Malta. A company official has suggested they will launch the euro-Bitcoin pair.
We want to remind you that in April, Binance also signed the MOU with the Government of Bermuda in order to create an educational base related to blockchain technology and to support the future fintech startups.