Bybit Secures First Full Crypto License in Georgia, Expands Regulated Operations

The global cryptocurrency landscape continues its evolution towards regulated environments, a trend underscored by Bybit’s significant strategic move into the Georgian market. By establishing a fully licensed operation in Georgia, Bybit is not merely expanding its geographical footprint but also signaling a commitment to compliant operations within emerging digital economies. This development positions Georgia as a nascent hub for digital asset trading, reflecting a broader industry shift towards greater regulatory clarity and institutional integration.

• Bybit has successfully established a fully licensed operation in Georgia, signaling a commitment to compliant growth in emerging digital economies.
• This strategic move positions Bybit as the first and only global cryptocurrency platform to secure a comprehensive local license in Georgia.
• The expansion follows Bybit’s prior successful market entry into the European Union, illustrating a deliberate progression in its global strategy.
• The new regulatory framework enables users in Georgia to engage in secure and lawful digital asset trading, fostering market integrity.
• Tekla Iashagashvili, Head of Bybit Georgia, affirmed the company’s dedication to upholding high standards of service, security, and infrastructure.

This expansion follows Bybit’s successful market entry into the European Union, marking a deliberate progression in its global strategy. Crucially, Bybit distinguishes itself as the first and only global cryptocurrency platform to secure a comprehensive local license in Georgia. This regulatory achievement enables users to engage in digital asset trading securely and lawfully, operating within a framework designed to protect participants and foster market integrity. Tekla Iashagashvili, Head of Bybit Georgia, emphasized that this milestone reaffirms Bybit’s dedication to high standards of service, security, and infrastructure, aligning with its mission to broaden access to digital assets globally and contribute to Georgia’s burgeoning digital economy.

Platform Offerings and Strategic Vision

The Bybit Georgia platform initially provides users access to a robust spot market, facilitating direct crypto-to-crypto exchanges. It also supports over-the-counter (OTC) trading for larger volume transactions, catering specifically to institutional and high-net-worth individual clients. Looking ahead, the company plans to integrate functionalities for depositing and withdrawing funds in the local currency, a critical step for enhancing accessibility and liquidity within the domestic market. The anticipated introduction of a banking card for mutual settlements further indicates a long-term vision for seamless integration with Georgia’s traditional financial system.

To incentivize initial user adoption and establish a strong market presence, Bybit has launched a targeted promotional campaign. This initiative aims to attract new users through incentives for registration, completion of KYC verification, and initial trading activities. While specific reward structures are part of the launch phase, the overall strategy underscores Bybit’s intent to rapidly onboard users and stimulate trading volume within this newly regulated market. The total prize pool for this initial campaign is 20,000 USDT, reflecting a direct investment in accelerating market penetration.

Bybit’s strategic entry into Georgia underscores the company’s proactive approach to navigating the complex global regulatory environment of digital assets. By prioritizing a licensed framework, Bybit aims to provide a secure and compliant trading venue, thereby contributing significantly to the maturation of the cryptocurrency ecosystem in Georgia and solidifying its role in the nation’s evolving digital economy.