Bybit Lands In Georgia

Major cryptocurrency exchange Bybit has landed on the grounds of Georgia, making it the first exchange to have a full license to offer digital assets trading to local investors.

Tapping into Bybit's services, users in the country can now have access to spot trading, asset conversion, and over-the-counter-trading for high volume transactions.

Bybit Georgia has also announced plans to introduce additional localized features which include fiat deposit, withdrawal services, as well as the Bybit Card, which will allow users to spend their cryptocurrency in everyday transactions.

Tekla Iashagashvili, Country Manager of Bybit Georgia, described the launch as a significant step in Bybit’s broader mission to expand access to digital assets worldwide.

Through its expansion into Georgia, the exchange also hopes to support the country's dynamic digital economy and contribute to the global growth of the crypto community.

Bybit's debut in Georgia comes just days after the launch of Bybit.eu, which exclusively targets users in the European Economic Area (EEA).

Bybit has outlined plans to further strengthen its European footprint by opening new regional offices in France, Germany, Spain, and Italy, adding to its existing operations in Vienna and Amsterdam.

Ambroise Helaine has also been named as the Country Manager for Bybit France, with the goal of establishing Bybit as the leading crypto app in Europe.

While Georgia is not a member of the European Union, it was granted candidate status by the European Commission in late 2023, signaling its growing integration with European markets.

New User Stands To Win 115 USDT Welcome Gift

To celebrate the launch, Bybit Georgia is hosting a limited-time Launch Campaign running from July 7 to August 7.

The Bybit Georgia team boosted that a newcomer would stand a chance to win a bonus of 115 USDT for free, which includes the 50 USDT welcome gift and an additional lucky draw of 65 USDT if the new user completes identity verification.

However, this is set on the premise that the total reward pool for the campaign is capped at just 20,000 USDT, with the rewards being distributed at a first-come, first-served basis.

Additionally, Georgian users also could earn airdrops and trading fee commissions by referring their friends to the new platform.

"Rewards include 10 USDT for deposits of at least $100 within seven days, up to a mystery box worth up to $1,000 for higher trading volumes, and commission rates from 20% to 30% based on the number of referrals."

Bybit's expansion Into Europe

Bybit’s expansion in Georgia comes on the heels of its recent MiCAR license approval from Austria’s Financial Market Authority, allowing the exchange to offer regulated crypto services across 29 EEA countries from its headquarters in Vienna.

At the same time, Bybit is adjusting its global strategy, preparing to scale back operations in Singapore following regulatory directives from the Monetary Authority of Singapore.

Bybit’s launch in Georgia underscores its commitment to expanding access to digital assets in emerging markets while maintaining regulatory compliance and enhancing user experience.

As the platform rolls out new features and campaigns, it aims to play a pivotal role in supporting Georgia’s evolving digital economy and the broader European crypto landscape.