Alongside the investment, the two companies have inked an agreement that will see BxB support Binance in operating a new support centre for local users of Binance.com, the exchange’s international platform. The investment was made, not through the exchange's incubator arm Binance Labs, but directly from Binance, according to CoinDesk.
Binance has also publicly acknowledged for the first time its local entity, Binance, registered with Korean authorities in October 2019. The subsidiary will operate the new support centre in partnership with BxB, the report indicates.
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