Premier and Minister of Finance of Bermuda David Burt signed a memorandum of understanding (MOU) with Binance Group on Friday, Bernews reports April 27. The MOU establishes funding for educational programs related to fintech and blockchain startups.
Burt stated that Binance plans to develop a “global compliance base” in Bermuda, a move which Burt says will add around 40 news jobs, at least 30 of which will go to Bermudians.
According to the MOU, Binance will spend up to $10 mln on university level training for Bermudians in blockchain technology development and compliance through the Binance Foundation. The company will also provide up to $5 mln in investments in new Bermuda-based blockchain companies through Binance Labs.
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