KEY TAKEAWAYS
- Bybit has registered as a Virtual Asset Service Provider with the National Bank of Georgia, enhancing its regulatory compliance.
- This registration is part of Bybit’s global strategy, having secured licenses in the Netherlands, Kazakhstan, and Türkiye in 2024.
- Bybit aims to support Georgia’s digital economy by providing secure trading solutions and fostering blockchain innovation.
- Georgia’s favorable regulatory environment and strategic location make it a prime candidate for digital economic growth.
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has announced its successful registration as a Virtual Asset Service Provider (VASP) with the National Bank of Georgia. This development underscores Bybit’s commitment to adhering to regulatory standards and positions the company as a key player in the digital economic growth of Georgia.
The registration in Georgia is part of Bybit’s broader global compliance strategy. Throughout 2024, the company has secured licenses in several key markets, including the Netherlands, Kazakhstan, and Türkiye. These efforts highlight Bybit’s proactive approach to fostering a transparent and secure environment for digital assets worldwide.
Ben Zhou, Co-founder and CEO of Bybit, stated, “We are honored to be registered as the VASP by the National Bank of Georgia, marking a new chapter in our journey to support the growth of the crypto ecosystem.” Zhou emphasized the company’s dedication to providing a secure and compliant platform for users in Georgia, contributing to the region’s aspirations to become a hub for blockchain innovation.
Bybit’s entry into the Georgian market aligns with the country’s ambitions to embrace digital transformation. As the demand for cryptocurrencies continues to rise, Bybit aims to deliver top-tier trading solutions to empower local users, entrepreneurs, and institutional investors.
Georgia’s strategic geographical location and progressive regulatory environment make it an ideal ground for a burgeoning digital economy. Bybit plans to enrich this ecosystem by introducing global best practices, educational initiatives, and new opportunities for innovation in the region.
For more details, the announcement can be found here.
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