Bybit, currently the world’s second-largest crypto exchange by trading volume, has officially registered as a Virtual Asset Service Provider (VASP) with the National Bank of Georgia.
This new license, announced on November 5, 2024, allows Bybit to offer regulated crypto services in Georgia, continuing its regulatory push across multiple countries, including the Netherlands, Kazakhstan, and Türkiye.
Bybit’s co-founder and CEO, Ben Zhou, expressed enthusiasm about the milestone, calling it a “new chapter” for the company in supporting Georgia’s crypto ecosystem.
Zhou emphasized Bybit’s commitment to building a secure and compliant platform in Georgia, aligning with the country’s vision of becoming a hub for blockchain innovation.
The VASP license also positions Bybit to contribute directly to Georgia’s digital transformation goals.
The exchange aims to tailor its services to local users, entrepreneurs, and businesses, meeting the growing interest in crypto within the Georgian market.
Bybit’s plans include adapting its trading solutions, offering educational resources, and promoting innovation through a localized approach that meets global standards.
For Georgia, welcoming a major exchange like Bybit signals progress in building a regulated digital asset market.
The country’s strategic location and swift regulatory developments are helping establish it as a promising player in the digital economy, with a focus on creating a secure framework for crypto operations.
Under the oversight of Georgia’s central bank, Bybit is expected to help strengthen the infrastructure for cryptocurrency in the region, setting an example for other exchanges interested in compliant expansion.
