Ben Zhou: The National Bank of Georgia Is One of the Most Progressive and Innovation-Oriented Regulators in the Region
The National Bank of Georgia is one of the most progressive and innovation-oriented regulators in the region, said Ben Zhou, Co-Founder and CEO of Bybit, at the official launch event of Bybit Georgia.
According to him, the licensing process in Georgia is strict and detailed, while at the same time transparent and predictable, which is particularly important for international companies. “The National Bank of Georgia is one of the most progressive and innovation-oriented regulators in the region. The transparent and predictable regulatory environment it has created motivates international companies, including Bybit, to operate and invest in the country,” said Ben Zhou. He also noted that a clear legal framework and the central bank’s active involvement in the regulatory process play an important role in the development of the crypto industry in Georgia.
“For our industry, it is very important that regulations are clear and predictable. In many regions, companies face difficulties related to banking regulations, whereas in Georgia the central bank itself is leading this innovative process. That is why we decided to invest in Georgia,” he added. Ben Zhou also noted that Georgia is emerging as a strategically important hub for the region, while support for the development of fintech and innovative technologies creates additional opportunities for the company to expand and invest in the local market.
Currently, about 46 people are employed by Bybit in Georgia, and the company plans to significantly expand its local team. In addition, the company actively cooperates with Georgian universities to support the development of education and professional skills in the fields of blockchain and crypto technologies. “Georgia has strong technological potential. We want to create new opportunities for young people locally, both in terms of education and employment,” he said. Today, Bybit is one of the world’s largest crypto platforms. The company’s global daily trading volume reaches tens of billions of dollars and it offers users a wide range of crypto and financial products.
