TBC Announces Partnership with Binance – World’s Leading Provider of Blockchain Ecosystem and Cryptocurrency Infrastructure » FINCHANNEL

TBC is pleased to announce a new partnership with Binance – a leading provider of blockchain infrastructure. On November 30, 2022, Binance CEO Changpeng Zhao and TBC CEO Vakhtang Butskhrikidze held a meeting at the TBC headquarters in Tbilisi, Georgia to discuss the areas of cooperation between the two organizations as stipulated in the Memorandum of Understanding signed earlier in November .

This partnership connects Binance – the world’s leading provider of cryptocurrency and blockchain infrastructure and TBC – a leading financial institution and a top technology company in the region. This provides an unprecedented collaboration in Georgia and the wider region, which will greatly contribute to the development of the virtual asset markets and the digital ecosystem in Georgia and the region.

The MOU expressed the mutual interest of Binance and TBC in the development of virtual asset markets in Georgia and the establishment of a long-term and sustainable platform for cooperation. As a partner of Binance, TBC Bank will open bank accounts for cryptocurrency exchange operations and provide fiat on/off ramp for Binance in Georgia to enable local users to safely buy/sell cryptocurrency on the Binance Georgia exchange platform using the local the currency Georgian Lari. TBC Bank and Binance will explore the possibility of issuing a co-branded Binance card. In turn, Binance will consider offering its proprietary cryptobroker API to TBC Bank and its subsidiaries to enable the investment platforms to offer crypto access to clients.

Binance has the most robust compliance program in the industry, including anti-money laundering (AML) principles and global sanctions, as well as tools for proactive detection of suspicious accounts and fraudulent activity. These tools and compliance programs make Binance a reliable and sustainable partner for TBC to support Georgian customers in trading cryptocurrency in a safe and secure manner.

TBC CEO Vakhtang Butskhrikidze commented: “In announcing our partnership today, Binance and TBC have come together to make people’s lives easier by enabling them to buy/sell cryptocurrency on the Binance platform using TBC Banks purchasing services. I believe Binance is a responsible global player, who understands the industry’s risks and acts in full compliance with AML/CTF procedures and international sanctions. In addition, it is our intention to create additional value for our users through financial literacy and awareness campaigns. We look forward to our future collaboration, which will greatly benefit the development of the regional virtual asset markets and our customers in the years to come.”