Crypto exchange Binance has announced the opening of a blockchain hub in Georgia which will promote cryptocurrency adoption in the region. The move comes on the backdrop of a number of partnerships, initiatives, and events the company is involved in in the country.
Digital Asset Exchange Binance Establishes ‘Web3 Outpost’ in Georgia
Binance, the world’s largest crypto exchange by daily trading volume, has launched a new blockchain hub in Georgia, the small crypto-friendly nation in the South Caucasus. In an announcement on its website, the trading platform explained the motives behind the project:
By establishing this Web3 outpost, we hope to attract top talent to the blockchain sector, facilitate educational initiatives related to digital finance, and further the development of Georgia’s crypto industry.
The leading global exchange noted that it already employs 25 people on its Georgia team but hopes to add dozens more jobs in the coming months. Besides expanding its workforce in the country, it also intends to improve blockchain education and accelerate the adoption of cryptocurrencies in the region.
Binance has been engaged in a series of partnerships in Georgia, including that with the payment gateway Citypay, announced earlier this year, and a collaboration with Georgia’s Agency for Innovation and Technology (GITA) on various initiatives.
The exchange is cooperating with several educational institutions — the Georgian Business and Technology University, Alte University, Kutaisi International University, Georgian American University, and Caucasus University.
Georgia Viewed as Important Point on Binance’s Map
According to Vladimir Smerkis, the crypto trading platform’s regional director, Georgia is a one of the most innovative countries in the region. He also described the nation as an important point on Binance’s map and elaborated:
We see a huge potential and interest, both from the crypto community and businesses, in the development of digital assets in the country.
The expansion of the exchange’s activities in Georgia follows a visit by Binance CEO Changpeng Zhao in November, when he met with Georgian Prime Minister Irakli Garibashvili and representatives of the local business and crypto circles.
“Thanks to the hub, we will strengthen the development of the recruiting program in the country, as well as make an even greater focus on the regional presence,” commented Binance Georgia’s General Manager Giorgi Chagelishvili.
Binance has been active elsewhere in the post-Soviet space and Eastern Europe as part of its regional expansion which comes amid heightened regulatory scrutiny in developed economies. In 2022, the company launched a blockchain education program in Kazakhstan and offered to assist Azerbaijan with crypto regulations.
Do you expect Binance to further increase its focus on Georgia and the wider region? Tell us in the comments section below.
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