Crypto exchange Binance has announced the opening of a blockchain hub in Georgia to facilitate cryptocurrency adoption in the region. The move comes on the heels of a number of partnerships, initiatives, and events the company is involved in in the country.
Digital asset exchange Binance launches “Web3 Outpost” in Georgia
Binance, the world’s largest crypto exchange by daily trading volume, has launched a new blockchain hub in Georgia, a small crypto-friendly country in the South Caucasus. In an announcement on its website, the trading platform explained the motivation for this project:
By establishing this Web3 hub, we hope to attract the best talent in the blockchain field, promote educational initiatives related to digital finance, and promote Georgia’s crypto industry and promote the development of the industry.
The leading global exchange noted that it already employs 25 people on its Georgia team and hopes to add dozens more in the coming months. In addition to expanding its workforce in the state, the company intends to improve blockchain education and accelerate the adoption of cryptocurrencies in the region.
Binance has a string of partnerships in Georgia, including a partnership with payment gateway Citypay announced earlier this year and various initiatives with the Georgia Innovation and Technology Agency (GITA
The exchange works with several educational institutions: the Georgian University of Business and Technology, Arte University, Kutaisi International University, Georgian American University, and Caucasus University.
Georgia is considered a key point on the map of Binance
According to Vladimir Smerkis, Regional Director of the crypto trading platform, Georgia is one of the most innovative countries in the region. He also described the country as a key point on Binance’s map, elaborating:
We see great potential and interest from both the crypto community and companies in the development of digital assets in the country.
The expansion of the exchange’s activities in Georgia follows a November visit by Binance CEO Changpeng Zhao, who met with Georgian Prime Minister Irakli Garibashvili and representatives from the local business and crypto communities.
Binance Georgia General Manager Giorgi Chagelishvili commented, “Thanks to this hub, we are able to enhance the development of our recruitment programs in the country and further focus on our local presence.”
Binance is also active in the post-Soviet space and elsewhere in Eastern Europe as part of its regional expansion in the wake of increased regulation in developed countries: in 2022, the company launched a blockchain education program in Kazakhstan, offering the following services.