Bybit Registered as a Virtual Asset Service Provider in Georgia

Dubai, United Arab Emirates, November 5th, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has successfully registered as a Virtual Asset Service Provider (VASP) with the National Bank of Georgia. This milestone reflects the company’s commitment to regulations and positions it as a reliable partner in digital economic development in Georgia.

Throughout 2024, Bybit has worked on its global compliance strategy, obtaining licenses in key markets like the Netherlands, Kazakhstan, and Türkiye. These advancements showcase Bybit’s dedication to creating a transparent and secure environment for digital assets worldwide.

> “We are honored to be registered as the VASP by the National Bank of Georgia, marking a new chapter in our journey to support the growth of the crypto ecosystem,” said Ben Zhou, Co-founder and CEO at Bybit. “This registration underlines our commitment to providing users in Georgia with a secure and compliant platform, further contributing to the region's ambition of becoming a hotbed for blockchain innovation.”

Bybit’s entry into the Georgian market aims to support the country’s ambitions for digital transformation. As demand for cryptocurrencies rises, Bybit is focused on delivering world-class trading solutions for local users, entrepreneurs, and institutional investors.

With progressive regulation and strategic geographical positioning, Georgia offers fertile ground for a digital economy. Bybit is excited to enrich this vibrant ecosystem by promoting global best practices, education, and new innovation opportunities in the region.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit offers a professional platform featuring an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is also a proud partner of the Oracle (NYSE:ORCL) Red Bull Racing team.

For more information about Bybit, visit Bybit Press.

For media inquiries, contact:
Head of PR
Tony Au
Bybit
tony.au@bybit.com

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This article was originally published on Chainwire.