Digital Jersey and Binance Sign Memorandum of Understanding

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An independent organization working in the digital industry, Digital Jersey signed a memorandum of understanding with the cryptocurrency company Binance. The official press release was published on June 11. According to the MOU, both companies intend to create an appropriate base and cryptocurrency exchange.

According to the information provided, Binance will assist Digital Jersey in the digital skills and promotion program for Blockchain in Jersey. Also, the companies intend to work together on the AML compliance issue. Moreover, Digital Jersey intends to provide Binance with support in obtaining a license and establishing relations with the bank at the local level.

It is reported that the government and the Jersey Financial Services Commission intend to support Digital Jersey. The company’s CEO, Tony Moretta, said:

“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.”

The signing of the memorandum will enable Digital Jersey to create 40 new jobs. Binance, in turn, intends to invest in Digital Jersey projects using Binance Labs.

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