Binance, a cryptocurrency exchange, opens a new regional office in Georgia

Binance, a cryptocurrency exchange, has established a new blockchain hub in cryptocurrency-friendly Georgia as part of its ongoing global expansion.

The launch of Binance's brand-new blockchain center in Georgia was announced on March 26 with the intention of accelerating the uptake of cryptocurrencies in Georgia. Binance refers to the center as a "Web3 outpost," with the goal of luring talent to Georgia's blockchain business, advancing industry education, and expanding employment prospects.

According to the announcement, Binance’s Georgia division currently employs 25 people that cooperate with the local public and private sector 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 the local crypto payment gateway CityPay, entered a collaboration 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 meetups here, with more than 2,000 people attending in total,” Smerkis said. He added that Binance sees a “huge potential and interest” in crypto both from the local crypto community and businesses.

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

Georgia, a former Soviet Union member, has emerged as one of the world's most crypto-friendly nations, and its administration has aspirations to turn Georgia into a significant global crypto hub. Numerous Bitcoin (BTC) ATMs are located in Georgia, enabling users to exchange their cryptocurrency for cash and vice versa. In Tbilisi, the capital of Georgia, there are currently more than 100 Bitcoin ATMs, according to statistics from CoinATMRadar.