Crypto exchange Bitget has announced its licensing to operate in Georgia, aiming to tap into the Eastern European market.
License Acquisition in Tbilisi
Bitget has secured a formal license to operate within the Tbilisi Free Zone as a custodial wallet service and a provider of digital asset trading services. This announcement was made in a press release shared with crypto.news.
Benefits of Operating in the Free Zone
The Tbilisi Free Zone is the only tax-free area located in East Georgia, featuring over 150 registered businesses from varied sectors. With the acquired license, Bitget can take advantage of cost-effective operations and access to approximately 80% of Georgia's skilled labor pool.
Company's Strategic Plans
Gracy Chen, CEO of Bitget, emphasized that Georgia's crypto-friendly regulatory framework supports growth and user protection. She noted that the company's objective is to collaborate with jurisdictions that recognize the potential of the crypto industry as a part of the new global economic infrastructure.
Bitget's licensing in Georgia marks a significant step in the expansion of its operations into Eastern Europe, highlighting the increasing importance of regulatory compliance for digital asset platforms.
