National Bank of Georgia Governor attends Bybit Georgia launch as firm begins operations under NBG VASP and payment licences

The National Bank of Georgia reported that its Governor, Natia Turnava, attended the official launch of Bybit Georgia, with Bybit commencing operations in Georgia based on Virtual Asset Service Provider and Payment Service Provider licences issued by the National Bank of Georgia. In her remarks, Turnava linked the entry of a large global digital-asset firm to the National Bank of Georgia’s priorities of attracting new market participants and strengthening competition, and highlighted recent reforms under which the central bank exercises full supervisory authority over virtual asset service providers to support market transparency and consumer protection. The release also noted that Bybit operates in more than 240 countries and holds regulatory authorizations across regions including under the European Union’s Markets in Crypto-Assets Regulation framework; Bybit CEO Ben Zhou pointed to Georgia’s crypto adoption and regulatory environment as factors behind the company’s investment decision.