Binance, one of the largest cryptocurrency exchanges globally, is expanding its presence by opening a new blockchain hub in Georgia. The initiative aims to promote further adoption of cryptocurrencies in the country, generate job opportunities, and attract talent to the Georgian blockchain industry.
The new hub is referred to as a “Web3 outpost,” and its purpose is to foster industry education and innovation while organizing educational and hackathon events. Binance aims to create dozens of new jobs by the end of 2023, in addition to the 25 individuals already employed by its Georgia division.
Georgia has become an attractive hub for blockchain and cryptocurrency firms due to its low electricity costs and favorable regulatory environment. The country has gained a reputation for its progressive approach to crypto regulation, attracting numerous blockchain startups in recent years.
Binance’s expansion into Georgia is part of the company’s broader global expansion strategy to promote cryptocurrency adoption worldwide. The exchange has been actively searching for new markets and partnerships, launching various initiatives aimed at increasing awareness and adoption of cryptocurrencies.
