TBC has announced a fresh cooperation with Binance, a prominent supplier of blockchain technology. Changpeng Zhao, CEO of Binance, and Vakhtang Butskhrikidze, CEO of TBC, met on November 30, 2022 at the TBC offices in Tbilisi, Georgia to explore the fields of collaboration between the two businesses as outlined in the MOU agreed previously in November.
This agreement brings together Binance, the world’s biggest cryptocurrency exchange and blockchain platform provider, and TBC, the region’s premier financial firm and top technological business. This relationship is unparalleled in Georgia and the broader area, and will significantly aid in the expansion of the digital asset markets and digital environment in Georgia and the surrounding.
The MOU emphasized Binance and TBC’s shared interest in the growth of digital asset markets in Georgia and the establishment of a framework for long-term and viable collaboration. As a Binance partner, TBC Bank will create banking facilities for cryptocurrency exchange activities and offer a fiat on/off gateway for Binance in Georgia, allowing domestic customers to buy and sell cryptocurrencies utilizing the national currency Georgian Lari. TBC Bank and Binance will investigate the possibility of issuing a co-branded Binance credit card. Binance will investigate providing its cryptocurrency Broker API to TBC Bank and its affiliates so that its investing platforms may give cryptocurrency exposure to consumers.
Binance offers the crypto sector’s most comprehensive compliance policy, which includes anti-money laundering (AML) principles and worldwide regulations, along with technologies for the proactive identification of suspect accounts and illegal dealings. These technologies and compliance processes make Binance a dependable and enduring ally for TBC in enabling Georgian clients to trade cryptocurrencies in a secure and reliable setting.
CEO of TBC Vakhtang Butskhrikidze said, “Binance and TBC have joined forces to transform people’s life simpler by allowing them to purchase and sell cryptocurrencies on the Binance platform utilizing TBC Bank’s purchasing services. Binance, I think, is a competent international player that knows the hazards of the sector and complies with AML/CTF protocols and global sanctions in complete. Furthermore , we want to offer value for our users via financial education and awareness-increasing efforts. We are eager for more our future collaboration, which will be of tremendous value to the growth of regional digital asset markets and our clients over the next years”
