The Binance cryptocurrency exchange announced the opening of a new blockchain center in Georgia. The establishment of this new “Web3 outpost” is expected to help Binance strengthen blockchain education and accelerate cryptocurrency adoption in the region.
Binance had forged several strategic partnerships, initiatives, and community events in the transcontinental country that is known for being crypto-friendly.
Blockchain Center in Georgia
According to the official blog. mail, the blockchain hub will be used to attract talent to the sector and facilitate educational initiatives related to digital finance, while fostering the development of the crypto ecosystem in the region. Currently, Binance’s Georgia team consists of 25 people, the platform expects to double hiring to add dozens more jobs by the end of 2023.
Vladimir Smerkis, Binance’s regional director, said that Georgia is an important point on the company’s roadmap. So far, Binance has held three community meetings attended by over 2,000 people in total, citing “great potential and interest” in the region.
Earlier this year, Binance’s payment arm Binance Pay partnered with crypto payment gateway CityPay in Georgia. The crypto exchange also entered into a strategic collaboration with the Georgia Technology and Innovation Agency (GITA) after signing a memorandum of understanding (MoU). The move involves both parties conducting blockchain education and community initiatives with the help of Binance Academy and Binance Charity.
Smerkis had previously stated,
“For a long time, we have seen great interest in the cryptocurrency market and in particular in crypto education in Georgia. I want to separately emphasize that Georgia is one of the most innovation-driven countries in the region.
Our goals are in line with the goals of the Georgia Agency for Innovation and Technology: together, we can create an effective system in Georgia, through which innovation and technology can be developed.”
Europe expansion
Binance and its US arm, Binance.US, have been in the crosshairs of the Department of Justice (DOJ), the SEC, and the New York Department of Financial Services (NYDFS) regarding their financial and regulatory compliance. But its expansion plan in Europe is still a success.
Since gaining its first regulatory approval in Europe with France’s stock market regulator Autorité des marchés financiers (AMF), Binance has continued its expansion after getting the go-ahead from France, Italy, Lithuania, Spain, Cyprus, Poland and , more recently, Sweden.
Binance Free $100 (Exclusive) – Use this link to sign up to receive $100 free and 10% off your first month’s fees for Binance Futures (terms).
PrimeXBT Special Offer – Use this link to sign up and enter the code POTATO50 to receive up to $7,000 on your deposits.
