Binance supports Georgia's

Digital asset exchange Binance has agreed to help Georgia develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading coin trading platform is expanding its presence in the region with similar projects in other countries.

Binance and the Georgian Tech Agency will jointly develop the country's crypto-economy

The world's largest cryptocurrency exchange Binance announced the signing of a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA). The parties intend to work together on the implementation of educational and public initiatives in the blockchain space and the further development of the national crypto industry.

The agreement was reached after a meeting between the trading platform's CEO Changpeng Zhao and Prime Minister Irakli Garibashvili in November, during which the investment was also discussed. The cooperation will cover the Binance Academy and Binance Charity projects, as well as the organization of local events and BNB Shain hackathons, according to the press release.

"Our goals coincide with the goals of the Georgian Agency for Innovation and Technology - together we can create an effective system in Georgia that will allow innovation and technology to develop," Binance Regional Director Volodymyr Smerkis is quoted as saying. He also noted:

For a long time, we have seen a huge interest in the cryptocurrency market and, in particular, crypto education in Georgia. I would like to emphasize separately that Georgia is one of the most innovative countries in the region.

The head of GITA, Avtandil Kasradze, noted that blockchain-related hackathons and seminars, which will be held in Georgia's technological parks, will contribute to the formation of new startup ideas and the implementation of commercialization-oriented projects.

This isn't Binance's first educational initiative in Georgia, a crypto-friendly place 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 University of Business and Technology (BTU) to provide blockchain education to students. Binance Academy will provide educational materials on Blockchain, Web3, NFT and Cryptocurrency.

Binance is participating in similar initiatives in other countries of Eastern Europe, the post-Soviet space and the Caucasus region as part of its efforts to expand its presence in the region. In December, the global crypto firm launched a blockchain education program at Kazakhstani universities and offered assistance to Azerbaijan in its efforts to adopt crypto regulations.

Author: GEximius