Georgia welcomes the Binance crypto exchange to open a hub and recruit staff
Binance takes steps to advance the crypto industry in Georgia with its new hub
Binance, a leading global cryptocurrency exchange, has announced plans to create a new blockchain hub in Georgia, one of the most innovative nations in the region with a high rate of cryptocurrency usage, making it an ideal location for Binance’s expansion.
The new blockchain hub, called the ‘Web3 Outpost,’ is scheduled to open by the end of 2023, and Binance’s Georgia division will partner with local public and commercial sectors to organise hackathons and educational events.
Georgia aims to become a significant global hub for the crypto industry, and Binance’s regional director, Vladimir Smerkis, has rated Georgia’s level of crypto adoption at 8 out of 10, indicating no significant barriers to adoption.
In November 2022, Binance CEO Changpeng ‘CZ’ Zhao visited Georgia and met with the Prime Minister and members of the local business and crypto communities. Binance also initiated a charitable project to promote Web3 education for women in the country.
Binance’s entry into Georgia is critical for the exchange’s growth and expansion into crypto-supportive countries. With nearly 100 Bitcoin ATMs in the capital city of Tbilisi, cryptocurrency usage in the Caucasus region is expected to rise with Binance’s presence.
Georgia’s emergence as a major global hub for the crypto industry, thanks to Binance’s arrival, is expected to attract other blockchain ventures and investors.
