Crypto Exchange Bybit Obtains VASP License in Georgia

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by Giorgi Kostiuk

2 years ago

Crypto exchange Bybit has obtained a Virtual Asset Service Provider (VASP) license from Georgia's National Bank, marking another step in its global compliance efforts.

New License for Bybit

Bybit has obtained a VASP license from the National Bank of Georgia, allowing the company to operate within the country's growing ecosystem. This aligns with Bybit’s goal to support crypto economic development in new regions. Bybit CEO Ben Zhou noted that the registration underscores the exchange’s commitment to providing users in Georgia with a secure and compliant platform.

the registration underscores the exchange’s commitment to providing users in Georgia with a secure and compliant platform.Ben Zhou

Georgia and Cryptocurrencies

Georgia is gaining attention from the crypto sector with new initiatives. Ripple has held talks with the Governor of the National Bank of Georgia, Natia Turnava, regarding the use of blockchain for economic digitalization. A representative from the bank confirmed that the focus was on exploring potential avenues for collaboration in digitalizing Georgia's economy.

Discussions with Ripple

While specific details of the talks remain undisclosed, it is known that Ripple is exploring collaboration opportunities in the digitalization sphere. This highlights a growing interest in developing blockchain initiatives in the country.

Bybit's VASP license acquisition in Georgia signifies its expanding global presence and strengthens the country's position as a hub for blockchain innovation. Future collaboration steps promise new opportunities for economic digitalization.

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