Bybit has registered as a Virtual Asset Service Provider with the National Bank of Georgia. This registration aligns with Bybit's efforts to meet regulatory requirements and support the development of the digital economy in Georgia.

In 2024, Bybit has pursued licensing in several key markets, including the Netherlands, Kazakhstan, and Türkiye.

Bybit Enters Georgian Crypto Market

The exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term's entry into the Georgian market is intended to support the country’s digital transformation initiatives. As interest in cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term rises, Bybit aims to provide advanced trading solutions to local users, entrepreneurs, and institutional investors.

Georgia's regulatory framework and geographical advantages position it as a potential hub for digital economic growth. According to Bybit, it seeks to contribute to this ecosystem through best practices, educational initiatives, and the promotion of innovation in the region.

“We are honoured 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 Receives Georgian VASP License, Strengthening Global Regulatory Presencehttps://t.co/bAVvwetnuV#PR pic.twitter.com/KSm0yrVxAE

— Crypto Daily™ (@cryptodailyuk) November 5, 2024

Nordic Blockchain Conference 2025 Highlights Bybit-NBA Partnership

Meanwhile, Bybit has formed a partnership with the Nordic Blockchain Association (NBA) to support innovation and growth in the regional blockchain ecosystem, as reported by Finance Magnates. This collaboration is part of the NBA's initiative to improve the blockchain community in the Nordics.

The association seeks to tackle challenges associated with blockchain adoption and promote educational programs. Bybit's participation is expected to advance these objectives by utilizing the exchange's global presence to foster local and international cooperation.

A notable aspect of this collaboration will be the Nordic Blockchain Conference 2025, which is positioned as the largest blockchain and Web3 event in the region.