Binance, the world’s largest crypto exchange, has recently stated that it would partner up with the Securities and Exchange Regulator of Cambodia (SERC) to boost the securities sector in the country.

According to the official statement issued on June 30th, the memorandum of understanding (MOU), signed by the two entities, will be leveraged in a number of ways. For instance, Binance, as a long-term player in the crypto sector, will firstly share the experience that it managed to gain over its course.

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On top of that, the exchange will also roll out various training courses to Cambodians, as well as support digital asset companies and “work towards designing an appropriate regulatory framework for the local industry.”

Sou Socheat, Director General of Securities and Exchange Regulator of Cambodia, mentioned that he is looking forward to working with Binance. Socheat added:

“SERC has not issued any digital asset license currently, but we are working to develop proper regulations and expect this MoU to be a stepping stone for our future regulatory work.”

Likewise, Gleb Kostarev, Binance Regional Head of Asia, noted that someday, Cambodia might even become the leading market, as the Southeast Asia region is beginning to adopt the use of digital assets. “Binance hopes to add value to the Cambodian securities industry by providing extensive and professional knowledge of the digital asset market,” the official report read.

Earlier in June, Binance also teamed up with the famous football player Cristiano Ronaldo to roll out a series of non-fungible token (NFT) collections, primarily sold on the Binance NFT platform. A week later, Khaby Lame, the most followed Tiktoker, shook hands with the exchange. From now on, Lame will act as Binance’s global ambassador in order to expand the crypto-oriented industry, as well as debunk some myths still surrounding Web3.

by Gyth L. – Crypto Analyst, BitDegree