Binance Opens Regional Blockchain Hub in Georgia – Binance, the largest cryptocurrency exchange by daily trading volume, has launched a new blockchain hub in Georgia, a small country in the South Caucasus that is crypto-friendly. The trading platform explained the project’s motivations in a statement on its website: “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 largest global exchange highlighted that its Georgia team already employs 25 employees, but that it plans to add dozens more positions in the coming months. In addition to increasing its employees in the country, the company plans to enhance blockchain education and accelerate the acceptance of cryptocurrencies in the region.
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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 partners with a number of educational institutions, including Georgian Business and Technology University, Alte University, Kutaisi International University, Georgian American University, and Caucasus University. 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 follows a November visit by Binance CEO Changpeng Zhao, during which he met with Georgian Prime Minister Irakli Garibashvili and members of the local business and cryptocurrency communities.
“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 in the post-Soviet space and Eastern Europe as part of its regional expansion, which coincides with increased regulatory scrutiny in advanced economies. In 2022, the company introduced a blockchain education program in Kazakhstan and offered regulatory assistance to Azerbaijan.
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