Key takeaways

• Binance has opened a regional hub in Georgia as it expands its global reach.

• The crypto exchange seeks to ramp up talent acquisition, promote blockchain education, and accelerate crypto adoption in the region.

• Binance has been active in the Georgian crypto space in recent months. 

Binance expands its global reach

Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Monday, March 27th, that it had opened a regional hub in Georgio.

This latest cryptocurrency news comes as the cryptocurrency exchange continues to expand its presence globally. 

According to the cryptocurrency exchange, the hub would be dedicated to ramping up talent acquisition, promoting blockchain education, and accelerating crypto adoption in the region. 

Binance’s Georgian division currently has 25 employees. The hub is working with the local public and private sectors to organise educational and hackathon events. Binance said it expects to create dozens more jobs in the region before the end of the year. 

While commenting on this latest development, Binance’s Georgia general manager Giorgi Chagelishvili, said;

“The opening of the hub in Georgia is a logical continuation of the dialogue that we started with the government last year. 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 of Binance.”

Binance’s regional director Vladimir Smerkis pointed out that Georgia is one of the most innovative countries in the region. Georgia has also become a serious leader in terms of the level of cryptocurrency adoption. 

Binance signed an MoU with Georgia

In November 2022, Binance’s CEO Changpeng Zhao (CZ) visited Georgia for the first time. During the visit, CZ met with Prime Minister Irakli Garibashvili and the local business and crypto communities.

In February 2023, Binance signed a memorandum of understanding (MoU) with the Agency for Innovation and Technology of Georgia (GITA). The two groups would work together on blockchain-related educational and community projects, as well as the growth of the cryptocurrency industry in the country as a whole.

Smerkis added that Binance now has a physical location in Georgia and is working on the legal side of the opening of the hub. 

The Georgian government is working to make the country a major global cryptocurrency hub. The country is currently hosting numerous Bitcoin ATMs, making it easier for users to convert cryptocurrencies into cash and vice versa.