Richard Parks Cryptocurrency exchange Bybit has obtained a Virtual Asset Service Provider (VASP) license from Georgia’s National Bank, continuing its strategic push for global regulatory compliance. This follows similar approvals in other regions, including the Netherlands and Kazakhstan, as Bybit aims to strengthen its global presence in regulated markets.
The new license allows Bybit to operate in Georgia’s expanding crypto ecosystem. In a press release on November 5, Bybit noted that the move aligns with its mission to support economic growth through crypto in emerging markets. Bybit CEO Ben Zhou emphasized that this registration underscores Bybit’s commitment to providing a secure, compliant platform for users in Georgia, contributing to the country’s ambitions of becoming a hub for blockchain innovation.
Georgia itself has become increasingly attractive to the crypto sector. Ripple executives recently engaged in discussions with Georgia’s National Bank Governor, Natia Turnava, regarding blockchain’s role in economic digitalization. While details remain limited, a bank representative confirmed that the talks focused on exploring potential collaborations for digitalizing the Georgian economy.