Georgian PM, Binance CEO discuss Georgia's "stable, favourable" business environment
Georgian prime minister Irakli Garibashvili met Changpeng Zhao, the CEO of Binance. Photo: PM's press office
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Georgian prime minister Irakli Garibashvili and Changpeng Zhao, the CEO of Binance, the world's largest cryptocurrency exchange, on Wednesday discussed the "stable and favourable" business environment of Georgia and "significant opportunities" offered by the country to investors.
After the meeting Zhao posted on his Twitter:
Met with Mr. Prime Minister of Georgia ???????? Irakli Garibashvili this morning. Had a great discussion about Web3 economy and Georgia. https://t.co/aXhHpe98pg pic.twitter.com/l0RGS4O13L
— CZ ???? Binance (@cz_binance) November 30, 2022
The government administration said the meeting had emphasised Georgia’s positioning as a hub of advanced financial technologies, highlighting its “strategic location” and "innovation-driven government".
Garibashvili said that his team was ready to "greatly support" foreign direct investments, noting the country's legislation was “prepared” to regulate cryptocurrency exchange.
Georgian Prime Minister Irakli Garibashvili has offered the CEO of Ripple, a United States-based technology company, to consider launching a company service centre in Georgia, with the offer made at a meeting as part of the World Economic Forum in Davos on Monday.
Successful Georgian startups and achievements of Georgia in the development of the innovation ecosystem were in the focus of meetings between a delegation of FTX Crypto Derivatives Exchange and representatives of the Georgian Agency for Innovation and Technology (GITA) on Friday.
The Georgian capital city of Tbilisi has the most number of Bitcoin ATMs in the world per $10 billion local GDP, says a new study titled 'World's Most Crypto-Friendly Cities'.
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Georgia is unveiling a Free Industrial Zone in capital Tbilisi, and the opening of the biggest Bitcoin data centre by virtual currency mining giant BitFury.
Spain was Georgia's major foreign direct investor country in the third quarter of 2022 with $165.9 million, followed by the United Kingdom with $122.9 million and Ireland with $120.3 million, the National Statistics Office of Georgia reported in its latest figures on Friday.
Binance, the world's largest cryptocurrency exchange platform, on Monday announced the opening of a new regional hub in Georgia, saying the operation would aim to acquire talent, “promote blockchain education, and accelerate crypto adoption in the region”.
Tether, the world’s largest issuer of stablecoin, a type of cryptocurrency, will help Georgia develop its blockchain infrastructure following a memorandum of understanding signed on Wednesday between the company and the country’s Ministry of Economy.