Bybit is bolstering Georgia’s standing as a significant crypto center through expanded operations. The global cryptocurrency exchange is investing heavily in the country, actively cultivating the local crypto ecosystem and strengthening collaborations with both private and public sectors. On March 11th, Bybit hosted a launch event in Tbilisi, partnering with Mastercard, Pave Bank, and Tether, attended by Georgia’s Minister of Economy, Mariam Kvrivishvili, and representatives from the National Bank of Georgia.
This event underscored the bank’s support for Bybit’s market entry and its contribution to Georgia’s financial landscape. A core element of this partnership is the Bybit Card, a payment solution developed jointly with Mastercard and Pave Bank. This card enables users to utilize crypto assets for everyday purchases via Mastercard’s established infrastructure, representing a tangible integration of digital assets into Georgia’s economy.
“Our partnership with Bybit demonstrates how traditional payment networks and digital ecosystems can create new opportunities,” stated Davit Zghuladze, Mastercard’s Vice President for Georgia and Armenia. Salim Danani, CEO of Pave Bank, emphasized the card’s importance in developing Georgia’s digital financial ecosystem. The National Bank of Georgia welcomes Bybit’s presence, recognizing its role in fostering competition and advancing the financial sector.
Bybit CEO Ben Zhou highlighted Georgia’s favorable regulatory environment, stating that its transparent approach allows for long-term operations and regional hub development. Currently employing over 40 individuals, Bybit intends to significantly expand its team, and operates under licenses within georgia. The company’s global strategy includes expansion into the EU market under the MiCAR regulatory framework, with georgia playing a crucial part.
Topics: #georgia #bybit #its
