Bermuda’s Premier and Minister of Finance, David Burt has signed a memorandum of understanding (MOU) with Binance Group, the operator of the world’s largest cryptocurrency exchange. Premier David Burt said: “Binance Labs are incubators to encourage greater innovation and scope for future investment in a variety of projects.” 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.