Cryptocurrency hub may open in Azerbaijan

The world's leading cryptocurrency exchange Binance intends to create an interactive cryptocurrency center in Azerbaijan - Binance Hub, Binance Regional Head for Central and Eastern Europe, Central Asia and Africa Kirill Khomyakov told Report.

He noted that the hub will be implemented jointly with one of the leading government agencies of Azerbaijan and will become a platform for training programs, seminars, hackathons, as well as for the exchange of experience and dialogue with the crypto community.

“The project is at an early stage, but all interested parties have already expressed support for its creation. The concept of the center is currently being developed,” said Khomyakov.

As the regional director of the company emphasized, the main task is for Binance Hub to become the core of cryptocurrency activity in the country: “Here users will be able to get answers to their questions, participate in training and develop innovative projects. We are ready to offer both expertise and financial support.”

He noted that in Azerbaijan, there is a high interest in cooperation with Binance from various organizations. The company continues to localize the service, including the Azerbaijani version of the interface, support service, as well as the launch of educational and marketing initiatives adapted to the local audience.

Earlier, in September last year, Binance signed a memorandum of understanding with the Center for Analysis and Coordination of the Fourth Industrial Revolution under Azerbaijan's Ministry of Economy.

During a recent visit, Binance representatives also held meetings with the Central Bank of Azerbaijan and the Innovation and Digital Development Agency under the Ministry of Digital Development and Transport.

In addition, according to Khomyakov, Binance plans to launch new products in 2025 focused on the needs of Azerbaijani users. In January 2025, the first national cryptocurrency PortCoin was introduced in Azerbaijan, operating according to the BEP-20 standard on the Binance Smart Chain platform.