Bybit Receives Georgian VASP License
After being approved in the Netherlands and Kazakhstan, Bybit has been granted another VASP license.
As part of its ongoing efforts to comply with international regulations, cryptocurrency exchange Bybit has secured a Virtual Asset Service Provider license from Georgia's National Bank.
The exchange said in a press release on November 5 that its Georgian registration enables it to function within the nation's expanding ecosystem, which is consistent with Bybit's objective of fostering the growth of the cryptocurrency economy in new areas.
Bybit chief executive Ben Zhou noted that the registration highlights the exchange's 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.”
Georgia Bets on Crypto
In the meantime, the cryptocurrency community is taking notice of Georgia. As previously reported, Ripple executives recently discussed the use of blockchain for economic digitalization with Natia Turnava, the governor of the National Bank.
A central bank spokesman acknowledged that the emphasis of the discussions was “exploring potential avenues for collaboration in the digitalization of the Georgian economy.” However, specifics of the discussions have not been made public.
