Binance Exchange signed a memorandum of understanding with the Kazakhstan Ministry of Digital Development, Innovation and Aviation Industry. This was reported to ForkLog by company representatives.

The document was signed during Binance CEO Changpeng Zhao’s visit to Kazakhstan, where he met with local officials, including Chairman Kassym-Jomart Tokayev and Head of the Ministry of Digital Development, Baghdad Musin.

As part of the deal, Binance is expected to advise the country on the regulation of cryptocurrencies. In addition, the Ministry of Digital Transformation and the exchange will seek a solution to “integrate the banking infrastructure into the cryptocurrency market”.

In addition, Binance and the ministry have agreed to jointly support the Astana Hub. According to Musin, the parties discussed the potential to create a blockchain-focused venture fund and academy “to help local talent from the Astana Hub reach the global level.”

Recall that on the basis of the Astana International Financial Center, they will launch a pilot project to create and develop a cryptocurrency exchange.