The crypto exchange Bitget has obtained regulatory approval to expand its operations into Georgia, marking a major step in the platform’s plan to penetrate the Eastern European market.
In a press release sent to crypto.news, the platform announced that it has secured a formal license to operate within Georgia’s Tbilisi Free Zone as both a custodial wallet service and a provider of digital asset trading services.
The Tbilisi Free Zone or TFZ is the only tax-free zone situated in East Georgia, in its capital city Tbilisi. According to the zone’s official site, it houses more than 150 registered companies from a wide range of business sectors.
By obtaining a digital asset exchange and wallet custodian license, Bitget (BGB) gets to enjoy the benefits that come with operating in the region, such as industrial & warehousing facilities, cost-effective operations, and access to around 80% of the skilled labor pool of Georgia.
Georgia is ranked as one of the top countries in terms of crypto mining per capita as well as blockchain integration. As a way to invite more companies from the crypto space, Georgia has actively pursued policies to align with global financial standards while embracing the strong potential of the emerging web3 industry.
CEO at Bitget, Gracy Chen viewed the region’s pro-crypto regulatory framework as part of a wider trend for countries leaning towards “the next era of finance.” She believes strategic policymaking can open doors for growth while at the same time enhancing user protection.
“Bitget’s goal is to work hand-in-hand with jurisdictions that understand the long game—where crypto is a synonym for the new emerging global economic infrastructure,” said Chen.
Bitget’s license to operate in Georgia marks a step forward in the platform’s mission to expand its operations into Eastern Europe. As crypto adoption in the region accelerates, compliance with regulatory frameworks have become increasingly important for digital asset platforms.
Previously in April, Bitget managed to secure full licensing in El Salvador. Receiving a digital asset service provider license from El Salvador‘s National Commission of Digital Assets allows the exchange to offer more services in the country, including spot and derivatives trading as well as yield-generating products.
