Binance’s General Manager for Central and Eastern Europe, Kyrylo Khomiakov, will take responsibility for Central Asia as well. His promotion comes after the crypto exchange’s top executives in the region left the company last month, part of a string of executive exits at Binance this year.
Kyrylo Khomiakov to Manage Binance’s Business in 14 Markets in Central and Eastern Europe and Central Asia
Binance, the largest digital assets exchange by daily trading volume, has appointed Kyrylo Khomiakov as its new regional head for Central and Eastern Europe (CEE) and Central Asia. Until now he was Binance’s General Manager for CEE.
Khomiakov will manage the company’s teams, focus on enhancing products and services and optimizing user experience to grow its business, a press release detailed. He will also oversee Binance’s marketing strategy and contacts with governments.
“Having Kyrylo, who possesses a deep understanding of these local markets and plays an integral role in the Binance organization, taking responsibility for these regions is crucial. This appointment will ensure an effective allocation of our resources to uphold our position in this part of the world,” said Richard Teng, head of regional markets at Binance.
Kyrylo Khomiakov joined the cryptocurrency exchange in January 2022 and was initially responsible for Ukraine before taking charge of the business in the entire CEE region. He will now lead Binance across 14 countries in both Central and Eastern Europe and Central Asia.
“We’re focused on building a local presence in CEE and Central Asian countries. This way, we can build trust and create products that help our users every day,” Khomiakov stated, expressing his excitement about the opportunity to help the industry’s expansion in more regions.
Amid heightened regulatory pressure in the U.S. and the EU, Binance has sought to increase its presence in Eastern Europe and the post-Soviet space as part of its regional expansion. Since 2022, the leading global exchange has opened an office in Romania, a blockchain hub in Georgia, launched an educational program in Kazakhstan and offered to assist Azerbaijan with crypto regulations.
However, in late September, announced it’s exiting Russia, which had been an important market for the crypto trading company, and selling its Russian business. Its top two executives in the region, Regional Head of Eastern Europe and the Commonwealth of Independent States (CIS), Gleb Kostarev, and General Manager for Russia and the CIS countries, Vladimir Smerkis, left the exchange earlier that month. Binance saw a number of executive exits this year, most recently the departures of managers in the U.K. and France.
Do you expect Binance to announce new executive appointments in other regions in the near future? Tell us in the comments section below.