Digital asset exchange Binance has agreed to help Georgia develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading forex trading platform has been expanding its presence in the region with similar projects in other countries.
Binance and Georgia Technology Agency to Jointly Develop the Country’s Crypto Economy
The world’s largest cryptocurrency exchange Binance has announced the signing of a memorandum of understanding with the Georgia Technology and Innovation Agency (GITA). The parties intend to work together on the implementation of educational and community initiatives in the blockchain space and on the development of the country’s crypto industry.
The agreement comes after a meeting between the chief executive of the trading platform, Changpeng Zhao, and Prime Minister Irakli Garibashvili in November, during which investments were also discussed. The cooperation will cover the projects of Binance Academy and Binance Charity, as well as the organization of local events and hackathons of BNB Сhain, a press release details.
“Our goals are aligned with the goals of the Georgia Agency for Technology and Innovation – together, we can create an effective system in Georgia through which innovation and technology can be developed,” said Binance Regional Director Vladimir Smerkis. . He also noted:
For a long time, we have seen a lot of 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-oriented countries in the region.
GITA President Avtandil Kasradze highlighted that blockchain-related hackathons and workshops to be held in Georgia’s tech parks will facilitate the formation of new start-up ideas and the implementation of projects aimed at commercialization.
This is not the first educational initiative from Binance in Georgia, a crypto-friendly destination that plans to update its digital asset regulations and legalize the industry. In January, the exchange announced the signing of a memorandum of cooperation with the country’s Business and Technology University (BTU) to offer blockchain education to its students. Binance Academy will provide educational materials on blockchain, Web3, NFTs, and cryptocurrencies.
Binance is involved in similar initiatives in other Eastern European countries, in the post-Soviet space, and in the Caucasus region, as part of its focus on expanding its presence in the region. In December, the global crypto company launched a blockchain education program at Kazakhstani universities and offered to help Azerbaijan with efforts to adopt crypto regulations.