Crypto exchange Binance launches new regional hub in Georgia

by Arthur · March 27, 2023

Cryptocurrency exchange Binance continues to expand its global reach by setting up a new blockchain hub in crypto-friendly Georgia.

On March 26, Binance announced the opening of its brand new blockchain hub in Georgia, aiming to further promote crypto adoption in the country. Binance refers to the hub as a “Web3 outpost”, and intends to attract talent to the Georgian blockchain sector, promote industry education and create more job opportunities.

According to the announcement, Binance’s Georgia division currently employs 25 people who collaborate with local public and private sectors to organize educational and hackathon events. The crypto firm expects to create “dozens more jobs” with the launch of its regional hub in Georgia by the end of 2023.

The launch of Binance’s new regional hub in Georgia follows several milestones in the process of Binance’s growth in the country.

Earlier this year, Binance partnered with local crypto payment gateway CityPay, partnered with the Georgian Innovation and Technology Agency (GITA), and launched the Binance Charity initiative to support women-focused Web3 education.

According to Vladimir Smerkis, Binance’s regional director, Georgia is one of the most innovative countries in the region.

“For Binance, Georgia is an important point on our map. To date, we have held three community meetings here, with more than 2,000 people in total,” Smerkis said. He added that Binance sees a “huge potential and interest” in crypto from both the local crypto community and businesses.

Related: Binance employees are reportedly helping customers in China bypass KYC checks

Binance CEO Changpeng “CZ” Zhao visited Georgia for the first time in November 2022. During the visit, CZ met with Georgian Prime Minister Irakli Garibashvili and the local business and crypto communities.

Binance CEO Changpeng Zhao, Georgian Prime Minister Irakli Garibashvili (left to right)

A former member of the Soviet Union, Georgia has emerged as one of the world’s most crypto-friendly countries, with the Georgian government harboring ambitions to turn the country into a major global crypto hub. Georgia is widely known for hosting many Bitcoin (BTC) ATMs, allowing users to convert crypto to cash and vice versa. According to data from CoinATMRadar, Georgia’s capital Tbilisi alone hosts more than 100 Bitcoin ATMs at the time of writing.

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