Binance establishes another regional hub in Europe amid US spat

[New@User]

Binance, the world’s leading cryptocurrency exchange, has announced the opening of a new regional hub in Georgia to promote blockchain education, accelerate crypto adoption, and boost talent acquisition in the Eastern Europe and Western Asia region. The move comes after Binance announced a series of strategic partnerships, initiatives, and community events in Georgia, which has become an important country for Binance due to its strategic location and crypto-friendly regulations.

The new hub will facilitate educational initiatives, create dozens of jobs, and strengthen crypto development in the country. Binance has been actively engaging with the Georgian crypto community through three community meetups that attracted over 2,000 people. The exchange has also partnered with CityPay, the Georgian Innovation and Technology Agency (GITA), and launched a Binance Charity initiative to support women-focused Web3 education.

Binance’s CEO Changpeng Zhao (CZ) visited Georgia in November and met with Prime Minister Irakli Garibashvili and the local business and crypto communities. Binance’s expansion in Georgia is a part of its offshore expansion strategy, as the exchange continues to face regulatory crackdowns in the US. Georgia’s crypto-friendly regulations, strategic location, and innovation make it a perfect location for Binance to expand its presence in the region.

[DapanasFruit]

I think Binance and CZ is slowly steering away from the big USA market and it is all because of the many problems it is encountering in trying to fulfill the demands of the governmental regulators. One of the big main area of concern is the lack of clear regulatory framework to work with in USA...and I think this is also the big complaint of many in this industry against SEC and related agencies. No matter how hard a platform is trying its best, when things are not yet stably established then it can be so difficult to wriggle in. I am then glad that Binance is now setting its eyes on new market and making sure that relationships are forged which can be helping it in many ways into the future. Welcome to Georgia!

[Kalchef]

Here we go again, people want CZ out of this shit hole as soon as possible but this man is forcing himself on UD territory? Why? These people dont like him, they want to see him go down because he is like a god of crypto or something, I dont care, I just want him to leave the US and relocate to another part of the world. Damn it.

[Yaunfitda]

I think Binance and CZ is slowly steering away from the big USA market and it is all because of the many problems it is encountering in trying to fulfill the demands of the governmental regulators. One of the big main area of concern is the lack of clear regulatory framework to work with in USA...and I think this is also the big complaint of many in this industry against SEC and related agencies. No matter how hard a platform is trying its best, when things are not yet stably established then it can be so difficult to wriggle in. I am then glad that Binance is now setting its eyes on new market and making sure that relationships are forged which can be helping it in many ways into the future. Welcome to Georgia!

Yeah, obviously this is the case right now for CZ, I mean they have their Binance.US but not sure if this is enough for the regulators to allow him to trade in their soil. And with the recent litigation by CFTC, CZ will have to find a way to get back and then steer away from US.

He already have his presence in Asia already. And so Europe will be the obvious target for him.

It's big and at least regulators are very open there, so good move for CZ and his Binance to conquer another continent.

[DeathAngel]

CS is an extremely smart guy, he is probably already several steps ahead of regulators at all times. Binance is a huge corporation now, he will be surrounded by very intelligent people, the best lawyers etc. You don’t need to worry about Binance, they will be able to withstand a lot of firepower from regulators & nation states before they even get close to being in serious trouble.

[disconnectme]

I am not surprised by this, any savvy investor would try to shield his/her business from external threats, the way US regulators are going against Binance is very obvious they want to go for its jugular. Most of these small European countries are tasty for investments and for CZ to meet the Prime Minister before setting up the hub means he is looking for protection and guarantee that his investment in the country would be protected, it is not only in Georgia, look at France what he is doing there, it is in the interest of this space that Binance doesn't go the way of FTX because it would be a huge setback 

[el kaka22]

I am not entirely sure what Georgians call themselves, but that doesn't really look like Europe, does it? I mean technically speaking they are in Asia, that's for sure, when you talk about the map parts, they are in Asia, there is no argument about that at all. But looking at UEFA euro cup for example, Georgia is in euro too, and I guess in some situations they are considered European or something?

I don't really know, I just know it is not close to mainland Europe that's all I know, and geographically they are in Asia without a doubt, maybe their nation is considered European citizens or something, I wouldn't know, but it is not a hub in the middle of Europe like Germany or something, so nothing to be hyped about.

[livingfree]

That's essential expansion for them. CZ and his company is just doing the right thing because what's happening on their US branch might also happen in their other branches and hub in different parts of the world.

If they see that it's no longer viable to operate within the US markets then that means that they just have to find another spot and cultivate the market there on their own.

But, this won't be tough anymore for them as they've got their names and brand already recognized worldwide.

[StarKay]

This is a win-win situation for both CZ Binance and Georgia, Binance is seeking for expansion and diversification while Georgia is looking for investors. But I don't think this new investment by Binance is related to the US challenge because there is no way the US market can be replaced in cryptocurrency. CZ should find a way to remain relevant in the US crypto market.

[rokok lokal]

Binance's latest move to set up a regional hub in Georgia is a strategic decision that will not only accelerate crypto adoption and increase talent acquisition in the region, but also strengthen the development of the crypto industry in the country. Binance has recognized the importance of Georgia's strategic location, crypto-friendly regulations, and innovation, and is actively engaging with the local crypto community through community meetings and partnerships.

In my opinion, This offshore expansion strategy is very important for Binance, given the crackdown it has faced in the US. This move highlights the importance of fostering a healthy crypto ecosystem in various regions of the world.