Binance, the world’s biggest cryptocurrency platform, has reached a deal to cooperate with the Securities and Exchange Regulator of Cambodia. This collaboration will impose strict rules for the domestic digital asset market and support crypto firms.
Binance also partnered with Khaby Lame, a TikTok celebrity. The 22-year old will be the global brand ambassador for the company.
Binance’s efforts in Cambodia
The SERC and the exchange announced recently that they will be working together to achieve three key goals.
Both parties will share their technical expertise in cryptocurrency operations. They will also support local digital asset companies in the Southeast Asian country and help to create a regulatory framework. Binance also promised to offer training courses and to introduce cryptocurrency and its merits to more Cambodians.
Mr. Socheat, Director-General of SERC, noted that the watchdog had not yet issued any digital asset licences but that it hopes to change this trend with Binance.
He said, “We expect to develop appropriate regulations and expect the Memorandum of Understanding to be a steppingstone for our future regulatory work.”
Gleb Kostarev, Binance Regional Head for Asia, commented on the collaboration. He stated that the Southeast Asian region has a high adoption rate for blockchain and digital assets, which means that Cambodia could become a global crypto hub.
The exec stated that Binance hoped to “add value to the Cambodian Securities Industry by providing extensive, professional knowledge of digital asset markets.”
Binance and Khaby Lame
The exchange also announced its partnership with Khaby Lame, who is the most followed person on TikTok. As a global brand ambassador, the Italian-Senegalese creator of TikTok will join the exchange.
Binance and Lame aim to increase crypto adoption among social media users and introduce educational features. He is 22 years old and has more than 144 million followers. His short videos in which he mocks complicated life hacks are well-known. His signature hand style, the “Khaby Move,” is displayed in future NFT collections.
Meet @KhabyLame our brand ambassador, the most popular creator on TikTok
We will do the following:
Drive crypto education
Exclusive Khaby Lame NFT Collections
Debunk the Web3 and crypto myths
Increase the industry and #Binance ecosystem
Welcome aboard Khaby! pic.twitter.com/pZi36Lcwl7
— Binance (@binance) June 30, 2022
The TikToker said he was intrigued by Web3 for a while and that Binance’s partnership is a great opportunity. He pledged to keep “making complex stuff simple and enjoyable for everyone” with the help of the platform.
James Rothwell, Global Vice President of Marketing at Binance, described Lame to be a “cultural icon” and one of the most entertaining creators worldwide. The exec said that his charisma and sense humor could help boost Web3 adoption.
It’s worth noting, however, that the trading venue struck a similar agreement last week with Cristiano Ronaldo, a soccer legend. The two parties will work together to create NTF collections that will only be available on Binance NFT.
The legend of Real Madrid and other clubs commented on the initiative and said that the relationship between him, his fans and the club is “very important” and that he was happy to share “unprecedented experiences with them.”
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