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In a progressive move for the crypto sector, Bybit has made significant strides in expanding its operations earlier today. The world’s second-largest cryptocurrency exchange by trading volume has officially registered as a Virtual Asset Service Provider (VASP) with the National Bank of Georgia.
This achievement underscores Bybit’s unwavering dedication to regulatory compliance and establishes it as a key player in nurturing Georgia’s digital economy.
Bybit Expands Global Compliance Efforts
Bybit’s recent registration in Georgia is part of a broader strategy to enhance its compliance framework across critical markets. In 2024 alone, the exchange successfully navigated the licensing landscape in several countries, including the Netherlands, Dubai, Kazakhstan, and Türkiye.
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These milestones reflect the exchange’s proactive approach to fostering a transparent and secure environment for digital asset trading worldwide.
Bybit’s Commitment to Georgia’s Crypto Ecosystem
Ben Zhou, Co-founder and CEO of Bybit expressed his excitement about this new chapter. He stated that the company is honored to have secured its latest provider license in Georgia and emphasized that this registration marks a significant step in the exchange’s journey to support the growth of the crypto ecosystem.
Zhou noted that it highlights Bybit’s commitment to offering users in Georgia a secure and compliant platform, which will help advance the region’s aspirations to become a hub for blockchain innovation.
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With this commitment, Bybit aims to empower local users, entrepreneurs, and institutional investors by providing state-of-the-art trading solutions as the demand for digital assets rises.
Georgia: A Fertile Ground for Digital Transformation
Georgia’s progressive regulatory environment and strategic geographical positioning make it ideal for the development of a digital economy. Bybit’s entry into this market not only reinforces its dedication to fostering a secure trading ecosystem, but also aligns with the country’s goals of embracing digital transformation.
Bybit is excited to contribute to this vibrant landscape by instilling global best practices, enhancing education, and creating new opportunities for innovation throughout the region.
As Bybit establishes its presence in Georgia, the exchange is poised to play a pivotal role in shaping the future of the crypto industry. Above all, support the country’s ambitions to become a leader in blockchain technology.
