Cryptocurrency exchange Binance continues to expand its global reach by creating a new cryptocurrency-friendly blockchain hub in Georgia.
Binance announcement on March 26, the opening of its brand new blockchain hub in Georgia, aimed at driving crypto adoption in the country. Referring to the hub as a “Web3 outpost,” Binance intends to attract talent to the Georgian blockchain sector, promote industry education, and create more job opportunities. .
According to the announcement, the Georgian division of Binance currently employs 25 people who cooperate with the local public and private sectors to organize educational events and hackathons. The crypto firm expects to create “dozens of additional 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 important milestones in Binance’s growth process in the country.
Earlier this year, Binance in partnership with local crypto payment gateway CityPay, entered into a collaboration with the Georgian Innovation and Technology Agency (GITA), and launched the Binance Charity initiative to support women-focused Web3 education.
According to Binance Regional Director Vladimir Smerkis, 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 attending in total,” Smerkis said. He added that Binance sees “potential and huge interest” in crypto from both the local crypto community and businesses.
Related: Binance Employees Reportedly Helping Customers in China Bypass KYC Checks
Binance CEO Changpeng “CZ” Zhao first visited Georgia in November 2022. During the visit, CZ encounter with Georgian Prime Minister Irakli Garibashvili and local business and crypto communities.
A former member of the Soviet Union, Georgia has become one of the most crypto-friendly countries in the world, with the Georgian government having ambitions to make the country a major global crypto hub. Georgia is widely known for hosting many Bitcoin (BTC) ATMs, allowing users to convert their crypto to cash and vice versa. According to data from CoinATMRadar, only the Georgian capital Tbilisi, hosts over 100 bitcoin ATMs at the time of writing.
Magazine: Best and Worst Countries for Crypto Taxes – Plus Crypto Tax Tips