Popular cryptocurrency exchange, Binance has signed a spectacular agreement with Georgian authorities. The exchange announced the development in a Twitter post on Thursday. Remarkably, Binance intends to leverage on this agreement to further expand its global presence.
Notably, Binance’s Memorandum of Agreement with Georgian Agency for Innovation and Technology(GITA) manifests to further develop Georgia’s crypto industry. As stipulated by the agreement, both parties are expected to implement large-scale educational and community initiatives in the blockchain space. Also, other benefits of the agreement include various educational and charity initiatives from Binance Academy and Binance Charity. In addition, local events and hackathons will be organized by BNB Chain.
Meanwhile, this initiative manifested after a crucial meeting held between Binance co-founder and CEO, Changpeng Zhao and Georgia PM Irakli Garibashvili. The meeting reportedly took place in November last year. As revealed, both parties discussed cooperation in blockchain and crypto education, investments, and other initiatives.
Binance sees greater prospects in Georgia’s crypto market – Smerkis
Reacting to the development, the regional director for Binance, Vladimir Smerkis boasted that the exchange has discovered a remarkable prospects in the Georgia’s crypto market. According to the exec, Georgia remains one of the most innovative countries across the globe. According to Smerkis, the Georgian agency shares in its goal to enhance crypto education and adoption across board. Further, the director said the exchange looks forward to collaborating with the agency to create an effective system in Georgia. He further that this system will be able to accommodate innovation and technology development.
Additionally, Georgian Agency for Innovation and Technology(GITA) Chairman, Avtandil Kasradze also reacted to the initiative. According to the official, one of the roles of Binance in the cooperation is to ensure the implementation of its own educational and charity programs in Georgia. Kasradze further that Binance plans to carry out workshops and hackathons related to blockchain technologies in TechParks. According to the chairman, the workshop will aid the formation of new start-up ideas and the implementation of commercialization-oriented projects.
Worth of note that this development comes barely a month after Binance entered a Memorandum of Cooperation with Georgia Business and Technology University(BTU). As revealed, the agreement manifested to allow Binance deliver blockchain education to Georgian students. As stipulated in the agreement, the exchange and its academy will avail the students with materials and support. This is to facilitate massive education on blockchain, Web3, NFTs, and cryptocurrency among the students.