Bybit has registered as a Virtual Asset Service Provider with the National Bank of Georgia. This registration aligns with Bybit's efforts to meet regulatory requirements and support the development of the digital economy in Georgia.
In 2024, Bybit has pursued licensing in several key markets, including the Netherlands, Kazakhstan, and Türkiye.
Bybit Enters Georgian Crypto Market
The exchange's entry into the Georgian market is intended to support the country’s digital transformation initiatives. As interest incryptocurrencies rises, Bybit aims to provide advanced trading solutions to local users, entrepreneurs, and institutional investors.
Georgia's regulatory framework and geographical advantages position it as a potential hub for digital economic growth. According to Bybit, it seeks to contribute to this ecosystem through best practices, educational initiatives, and the promotion of innovation in the region.
“We are honoured 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,” said Ben Zhou, Co-Founder and CEO at Bybit.
“This registration underlines our commitment to providing users in Georgia with a secure and compliant platform, further contributing to the region's ambition of becoming a hotbed for blockchain innovation."
Bybit Receives Georgian VASP License, Strengthening Global Regulatory Presencehttps://t.co/bAVvwetnuV#PR pic.twitter.com/KSm0yrVxAE
— Crypto Daily™ (@cryptodailyuk) November 5, 2024
Nordic Blockchain Conference 2025 Highlights Bybit-NBA Partnership
Meanwhile, Bybit has formed a partnership with the Nordic Blockchain Association (NBA) to support innovation and growth in the regional blockchain ecosystem, as reported by Finance Magnates. This collaboration is part of the NBA's initiative to improve the blockchain community in the Nordics.
The association seeks to tackle challenges associated with blockchain adoption and promote educational programs. Bybit's participation is expected to advance these objectives by utilizing the exchange's global presence to foster local and international cooperation.
A notable aspect of this collaboration will be the Nordic Blockchain Conference 2025, which is positioned as the largest blockchain and Web3 event in the region.
This article was written by Tareq Sikder at www.financemagnates.com.
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