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

Binance and Georgian Tech Agency to Jointly Develop Country’s Crypto Economy

The world’s largest cryptocurrency exchange, Binance, announced the signing of a memorandum of understanding with Georgia’s Agency for Innovation and Technology (GITA). The sides intend to work together on the implementation of educational and community initiatives in the blockchain space and the further development of the nation’s crypto industry.

The agreement comes after a meeting between the trading platform’s CEO Changpeng Zhao and Prime Minister Irakli Garibashvili in November, during which investments were also discussed. The cooperation will cover projects by both Binance Academy and Binance Charity as well as organizing local events and hackathons by BNB Сhain, a press release detailed.

“Our goals are in line with the Georgian Agency for Innovation and Technology’s goals — together, we can create an effective system in Georgia, whereby innovation and technology can be developed,” Binance’s Regional Director Vladimir Smerkis was quoted as stating. 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 want to separately emphasize that Georgia is one of the most innovation-driven countries in the region.

GITA Chairman Avtandil Kasradze pointed out that the blockchain-related hackathons and workshops that will be held in Georgia’s tech parks will facilitate the formation of new startup ideas and the implementation of projects oriented towards commercialization.

This is not Binance’s first educational initiative 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 deliver blockchain education to its students. Binance Academy will provide educational materials on blockchain, Web3, NFTs, and cryptocurrency.

Binance has been engaged in similar initiatives in other countries in Eastern Europe, the post-Soviet space, and the Caucasus region as part of its focus on expanding presence in the region. In December, the global crypto firm launched a blockchain education program in Kazakhstan’s universities and offered to help Azerbaijan in efforts to adopt crypto regulations.

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