Bybit Expands Operations In Georgia With Regulatory-Driven Approach And Largest Crypto Card Launch

Cryptocurrency exchange Bybit annnounced that its Co-founder and CEO, Ben Zhou, met with Irakli Kobakhidze, Prime Minister of Georgia, in Tbilisi to discuss the ongoing development of Georgia

’s digital asset ecosystem and the role of responsible innovation in enhancing the country’s financial technology sector.

The meeting underscored Bybit’s long-term commitment to positioning Georgia as a strategic hub for financial innovation and digital asset services in the region. Discussions focused on regulatory cooperation, fintech innovation, and opportunities to expand Georgia’s growing digital economy through collaboration between government authorities and industry leaders. 

The meeting was attended by Mariam Kvrivishvili, Minister of Economy and Sustainable Development of Georgia, Levan Zhorzholiani, Head of Government Administration, and Shota Lomtadze, Co-Founder and CEO of Bybit Georgia.

Prime Minister Kobakhidze welcomed the involvement of leading international fintech companies in Georgia, noting that increasing interest from global technology and financial platforms reflects the country’s attractive investment climate and expanding potential in digital innovation and financial services. The Prime Minister also highlighted Georgia’s economic performance, with an average growth rate of 9.3 percent recorded between 2021 and 2025.

Building A Trusted Digital Asset Ecosystem In Georgia

Since entering the Georgian market, Bybit has pursued a compliance-first strategy, establishing its local presence through close collaboration with regulators and a focus on building trusted financial infrastructure.

“Georgia is becoming a model for how crypto companies can embed themselves into a country’s financial fabric,” said Ben Zhou in a written statement. “We have gone from obtaining our VASP license to launching local payments infrastructure, becoming the largest crypto card issuer in the country, and building partnerships with both global stablecoin leaders and local banking institutions. That’s the kind of deep integration that creates real value for users and for the economy,” he added. 

Bybit’s operations in Georgia now encompass a full spectrum of services from trading to payments. The company became the first global exchange to secure a Virtual Asset Service Provider (VASP) license in Georgia in Q4 2024, establishing a regulatory foundation for its local activities. In July 2025, Bybit launched bybitgeorgia.ge, providing Georgian users with seamless access to global digital asset services in the local language. By Q4 2025, Bybit secured a Payment Service Provider (PSP) license, enabling the company to build local fiat payment rails and establish a key role in Georgia’s payments ecosystem.

The launch of the Bybit Card in January 2026 positioned the company as the largest crypto card issuer in Georgia, connecting digital assets with everyday spending and merchant payments. In addition, Bybit is actively negotiating partnerships with a leading Georgian bank to offer integrated crypto trading services, aiming to deliver digital asset access directly to traditional banking customers, a first-of-its-kind model in the region.

Beyond infrastructure development, Bybit has committed to supporting Georgia’s payments modernization and financial inclusion initiatives. The company continues to engage with regulators, banking partners, and industry stakeholders to promote digital literacy and innovation across the country.

“Regulatory clarity and constructive dialogue with policymakers are the foundation,” said Ben Zhou. “But the real measure of success is whether we’re making financial services more accessible, more affordable, and more connected for everyday Georgians. That’s what we’re building toward,” he added. 

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