Binance to Solidify Its Presence in Georgia with a New Blockchain Hub

On March 26th, crypto exchange Binance revealed its plans to set up a new blockchain hub in Georgia. The goal of this hub is to encourage more Georgians to use crypto.

The new blockchain hub, dubbed a Web3 outpost, aims to bring more talent to Georgia’s blockchain sector, improve education in the industry, and create more jobs.

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The cryptocurrency exchange is set to use the new hub as a regional operations base. It is worth noting that recruitment for various positions has already started.

According to Binance’s regional director, Vladimir Smerkis, Georgia is among the leaders in the innovation sector. On top of that, Smerkis claims that Georgia is a "serious leader" in crypto adoption with room to expand. Moreover, Binance's regional director highlighted that the country has one of the most crypto-friendly legal frameworks in the world.

When talking about the new launch, Binance’s Georgia general manager Giorgi Chagelishvili, stated:

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 already has an active presence in the country. At the start of 2023, the crypto exchange partnered with a local payment gateway CityPay and the Georgian Innovation and Technology agency.

In November 2022, Binance CEO, Changpeng Zhao, visited Georgia, where he met the country’s Prime Minister Irakli Garibashvili, businesses, and the local crypto community. It is worth noting that over a month before Zhao's visit, the Georgian government created a legal framework to regulate digital businesses and cryptocurrency trading. 

In recent years, Georgia has emerged as one of the most crypto-friendly nations in the world. The government actively promotes the crypto sector to make Georgia a global crypto hub. The nation’s capital of Tbilisi has over 100 Bitcoin ATMs, according to CoinATMRadar.