The world’s largest crypto exchange Binance continues to expand its global reach after establishing a new blockchain center in Georgia. On March 26, the company announced the opening of its brand new regional office in the country , aiming to further promote the adoption of crypto-asset trading locally and to attract and train the best local talent in the sector. In addition, Binance plans to open dozens more jobs by the end of the year.
According to the announcement issued by the company, 25 people are currently employed in the division of the crypto exchange in Georgia , who cooperate with the local public and private sector to organize educational and so-called hackathon events. Binance regional director Vladimir Smerkis has told Cointelegraph that the country is one of the most innovative in the region and is a “serious leader” in terms of the level of adoption of the opportunities presented by the crypto industry. He gives an 8 out of 10 rating to Georgia’s progress in the development of blockchain technology and does not believe that there are any serious challenges for the further progress of the players in the sector.
In his interview, Smerkis also emphasizes that the country’s regulatory authorities understand that strict restrictions on the crypto market can often lead to negative consequences :
“There are many developers and enthusiasts in Georgia who create independent blockchain projects, games, NFTs, etc. The country is an excellent springboard for their development in this direction.”
In addition, he adds that Binance already has its own office building , and the only thing that remains is “to complete the processing of the documentary part of the opening of the center” . The opening of the company’s new regional hub in Georgia is the next stage of the crypto exchange’s growth plan at the local level. Earlier this year, Binance entered into a partnership agreement with local crypto payment company CityPay, entered into a collaboration with the Georgian Innovation and Technology Agency, and launched its own charity initiative to support women’s equal access to education in the field of Web3 technologies.Binance CEO Changpeng Zhao visited Georgia for the first time in November 2022. Then he met with the country’s Prime Minister Irakli Garibashvili and representatives of the local crypto business.
The former Soviet republic has established itself as one of the most favorable locations in the world for launching and developing a variety of activities related to blockchain technologies. The government does not hide its ambitions to turn the country into a major global crypto center. Georgia has become widely known for allowing the placement of Bitcoin ATMs , allowing users to convert cryptocurrency to cash and vice versa. According to data from CoinATMRadar , more than 100 such devices are located in the capital Tbilisi alone .
Source: Kal Data