Binance and Digital Jersey spearhead crypto exchange in Jersey
The indepently run organization that renders Jersey’s digital footprint, Digital Jersey, has signed a memorandum of understanding (MOU) with noteworthy cryptocurrency exchange, Binance. The goal of the agreed upon MOU is to build a crypto exchange on the island of Jersey and develop a compliance base between the two firms.
The Jersey Financial Services Commission and the Government of Jersey have agreed to work in conjunction with Digital Jersey in order to establish the blockchain technology while fostering the growth of locals. Tony Moretta, CEO of Digital Jersey stated,
“We can provide a permissive sandbox for innovative crypto business to thrice 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.”
This agreement is set to create roughly 40 new jobs within the field sparking Binance to continually invest in Jersey-based startups through Binance Labs, their venture capital subsidiary. Digital Jersey aims to provide training with their digital skills program with the key focus of promoting the blockchain tech industry in the country while initiating local licensing and banking relations.
For more information, visit the Digital Jersey press release.
Executive editor： Sarah