Bybit Secures VASP License from Georgia’s National Bank, Boosting Regional Crypto Growth

With this license, Bybit is poised to support Georgia’s digital transformation goals, contributing to a more secure and regulated environment for cryptocurrency users.

Strengthening Georgia’s Position in the Global Crypto Landscape

Georgia’s strategic geographic location and progressive regulatory stance have attracted numerous blockchain companies, signaling the nation’s rising influence in the global crypto industry. Bybit’s entry, marked by its VASP license, is expected to bolster the country’s crypto ecosystem by:

• Promoting Crypto Adoption: Bybit’s presence will likely drive awareness and acceptance of digital assets in Georgia, encouraging both individual and institutional participation.

• Enhancing Regulatory Compliance: Operating under the National Bank of Georgia’s oversight ensures a structured, compliant framework for Bybit’s operations, which could enhance investor trust.

• Fostering Economic Growth: By supporting the crypto sector, Georgia may see increased investment and innovation, positioning itself as a potential leader in the blockchain space.

Ben Zhou, Bybit’s Co-founder and CEO, expressed enthusiasm for the opportunity to support Georgia’s digital goals.

“We are honored to be registered as a VASP by the National Bank of Georgia, marking a new chapter in our mission to foster a secure and compliant crypto ecosystem in emerging markets,” he said.

Bybit’s Broader Regulatory Expansion: From Dubai to Global Markets

Bybit’s licensing success in Georgia reflects its ongoing strategy to establish a regulatory footprint in key markets worldwide. Recently, the exchange secured a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA), allowing it to cater to retail and institutional clients across the UAE. This Dubai license aligns with Bybit’s efforts to set up a global hub in the city, where its headquarters has been based since 2022.

Additionally, Bybit has introduced an Islamic Account tailored for Muslim traders, offering Shariah-compliant crypto trading. This account provides access to 75 cryptocurrencies and includes Shariah-certified trading bots, meeting the needs of the $2.3 trillion Islamic finance sector. Certified by ZICO Shariah and CryptoHalal, this initiative reflects Bybit’s commitment to inclusivity and compliance across diverse financial markets.

As part of its global outreach, Bybit has also partnered with the Nordic Blockchain Association to support blockchain education and events across Scandinavia. This collaboration includes participation in the Nordic Blockchain Conference 2025, strengthening Bybit’s role as an advocate for blockchain innovation on multiple fronts.

Bybit’s regulatory progress signals its dedication to fostering a secure, compliant, and accessible crypto market, both in emerging regions like Georgia and established financial centers worldwide.