Bybit Secures Virtual Asset Service Provider Registration from the National Bank of Georgia

Bybit, the world's second-largest cryptocurrency exchange by trading volume, is proud to announce it has successfully been registered as a Virtual Asset Service Provider by the National Bank of Georgia.

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

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced its successful registration as a Virtual Asset Service Provider (VASP) by the National Bank of Georgia. This marks a significant milestone in the company's commitment to adhering to regulatory frameworks and positions it as an active and reliable partner in fostering digital economic development in the country.

As part of its global compliance strategy, Bybit has undertaken the licensing process in key markets throughout 2024, including the Netherlands, Kazakhstan, and Türkiye. These regulatory achievements showcase Bybit's dedication to proactive initiatives in establishing a transparent and secure environment for digital assets worldwide.

Bybit's entry into the Georgian market aims to support the country's aspirations to embrace digital transformation. With the growing demand for cryptocurrencies, Bybit is set to provide world-class trading solutions to empower local users, entrepreneurs, and institutional investors in their endeavors within the digital economy.

At the forefront of progressive regulation and boasting a strategic geographical positioning, Georgia presents a fertile landscape for a flourishing digital economy. Bybit is poised to contribute to this vibrant ecosystem through the integration of global best practices, educational initiatives, and the cultivation of new innovation opportunities for the region.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Founded in 2018, Bybit provides a professional platform where crypto investors and traders can access an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is also a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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