Bybit Georgia has announced plans to launch a new cryptocurrency trading app, followed by the Bybit Card, a global cryptocurrency card powered by MasterCard infrastructure. Company manager Tekla Iashagashvili noted that the card will allow users to spend cryptocurrency in Georgia and abroad — “anywhere MasterCard is accepted.”

This move could be one of the most significant developments in the Georgian fintech sector in recent years, strengthening Georgia’s position as a crypto-friendly jurisdiction and a magnet for international projects.

What is Bybit Card

Bybit Card is a cryptocurrency debit card linked to your crypto account in the Bybit app. When you pay at a regular store, cafe, or online service, your cryptocurrency (e.g., USDT or BTC) is automatically converted into fiat currency, such as Georgian lari or US dollars, depending on the country and point of payment.

Essentially, it is a “bridge” between the world of cryptocurrencies and traditional payments, where users can pay for purchases directly from their crypto balance.

Why this is important for Georgia

For several years now, Georgia has been positioning itself as the region’s financial technology hub, offering liberal regulation in the field of digital assets, VASP licenses, virtual zones, and a favorable tax environment. The emergence of Bybit Card reinforces this trend in several ways:

1. Influx of crypto entrepreneurs

The emergence of a local card with global functionality makes Georgia more attractive to freelancers, traders, and crypto companies, who now do not need to use foreign cards such as Binance or Crypto.com. This will strengthen the country’s financial ecosystem and increase turnover within local banks.

2. Convenience for businesses and sole proprietors

For sole proprietors and small companies that accept payments in cryptocurrency, Bybit Card solves the problem of liquidity — money from the wallet can be spent instantly, without withdrawal to a bank and without losses on conversion through third‐party services.

Example:

• A freelancer receives payment in USDT;
• The funds remain in the Bybit wallet;
• Expenses — rent, equipment, services — can be paid directly from the card.

3. Increased financial flexibility

The card works on the principle of global multi‐currency conversion: payments can be made in any currency where MasterCard is accepted. This is particularly convenient for entrepreneurs who travel frequently or conduct international business.

4. Stimulus for the development of crypto infrastructure

The more such instruments appear on the market, the more actively the local crypto ecosystem develops — exchange platforms, accounting solutions for crypto accounting, integration into POS terminals, etc.

Potential challenges and regulatory issues

While Bybit has not disclosed all the details of its interaction with Georgian banks and tax authorities, it is clear that the product will require transparent identification (KYC) and compliance with AML regulations. Most likely, Bybit Card will be integrated into Bybit's global ecosystem, where card transactions are processed through MasterCard's partner issuing bank.

Georgia, as a country with a developed digital infrastructure and an adaptive regulator, is capable of quickly integrating this tool into the existing legal framework, similar to what has already been implemented for VASP companies operating under the supervision of the National Bank of Georgia.

What this means for entrepreneurs

• Quick access to cryptocurrency funds — without lengthy transfers and conversions;
• International liquidity — you can spend cryptocurrency in any country where MasterCard is accepted;
• New business models — marketplaces and startups will be able to accept payments in crypto without losing speed;
• Increased competition among fintechs — local banks and PSPs will begin to implement similar solutions.

Conclusion

The launch of Bybit Card is another step in building a financial bridge between the crypto economy and real business. For Georgian entrepreneurs, this is a chance to speed up international payments, reduce dependence on bank schedules, and make cryptocurrency part of everyday money circulation.

If you want to legally accept payments in cryptocurrency or prepare to work with new fintech tools in Georgia, the ESPERO team can help you:

• register an individual entrepreneur or company with crypto activities (VASP);
• draw up contracts and taxation for crypto transactions;
• connect payment solutions and Bybit Account for business;
• provide consultation on tax and compliance issues.

Contact us today — we will prepare your business for the future of Georgia's financial system.