Binance, the world’s largest cryptocurrency exchange, is taking big steps to increase its global reach by establishing a regional hub in Georgia. This move aims to expand the company’s talent pool, promote blockchain education, and accelerate the adoption of cryptocurrencies in Eastern Europe and Western Asia.
Currently, Binance Georgia has 25 employees who are working with local public and private sectors to organize educational and hackathon events. By the end of 2023, Binance expects to have significantly expanded its operations and created numerous employment opportunities in the country.
According to a press release by Binance:
“In addition to ramping up hiring, Binance will step up efforts to strengthen blockchain education and accelerate the adoption of crypto in the region.”
Georgia’s strategic location between Europe and Asia, along with its favourable regulations towards cryptocurrency and a culture of innovation, has made it a crucial country for Binance.
Binance has formed partnerships and initiatives, including teaming up with cryptocurrency payment gateway CityPay, collaborating with the Georgian Innovation and Technology Agency (GITA), and introducing the Binance Charity program to provide support for women-focused Web3 education, as well as organizing a BNB Chain hackathon.
According to Vladimir Smerkis, Binance’s regional director, Georgia is among the most innovative countries in the region. Smerkis stated:
“To date, we have held three community meetups here, with more than 2,000 people attending in total. We see a huge potential and interest, both from the crypto community and businesses, in the development of digital assets in the country.”
Binance’s Georgia general manager, Giorgi Chagelishvili, stated:
“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.”
Despite the U.S. regulatory crackdown on cryptocurrency and objections to the Voyager-Binance.US deal, the exchange has been pushing forward with its offshore expansion into other markets. The CEO of Binance, Changpeng Zhao, met with the Georgian prime minister, Irakli Garibashvili, as well as members of the regional business and cryptocurrency communities during his first visit to Georgia in November 2022.
Meanwhile, a report surfaced last week suggesting that Binance may have insiders who are assisting Chinese users in circumventing the exchange’s security measures. The report claimed that Binance’s employees and volunteers, referred to as “Angels,” were exchanging messages in Chinese-language chat rooms to discuss methods of bypassing the exchange’s Know Your Customer (KYC), residency, and verification requirements.
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