Bybit Rolls Out Crypto Payment Card in Georgia Market

Bybit just launched something big. The world’s second-largest crypto exchange by trading volume dropped its new Bybit Card in Georgia on January 28, 2026, letting residents spend their digital coins at any merchant that takes Mastercard. Pretty much a game-changer for folks wanting to use crypto for everyday stuff.

Tekla Iashagashvili, who runs Bybit’s Georgia operations, can’t hide her excitement about this launch. She said the card will help people weave digital assets into their daily spending habits without the usual headaches. David Zgudadze from Mastercard jumped in too, calling it a major step forward for digital payments and financial inclusion across Georgia. The partnership makes sense – Mastercard’s network spans millions of merchants worldwide, and Bybit brings 80 million users to the table. Zgudadze, who serves as Vice President for Mastercard in Georgia and Armenia, sees this as part of their bigger push to back innovative payment solutions. The timing couldn’t be better, with Georgia’s digital finance scene heating up fast.

The card supports multiple cryptocurrencies. No surprise there.

Bybit packed the card with security features that matter to real users. EMV 3-D Secure protection keeps transactions safe, while competitive conversion rates mean people won’t get hammered by fees when they spend their crypto. Users get instant access to a virtual card, and there’s a physical version coming once regional stuff gets sorted out. The card links up with Google Pay in supported areas, so contactless payments work just like any other card. Sophie Chen, who heads marketing for Bybit’s Payment Business Unit, said the Georgia expansion shows how serious they are about connecting digital assets with everyday spending. She didn’t specify exact conversion rates, but the company promises they’ll stay competitive.

Bybit’s throwing money at this launch with a 10% cashback deal that’s hard to ignore. New users can pocket up to $150 back on their spending, while existing customers get up to $75. But there’s a catch – you need to deposit at least $100 within 30 days and complete identity verification to qualify. The promotion basically pays people to try the card, which makes business sense when you’re entering a new market. Bybit wants active users, not just sign-ups.

Pave Bank’s backing this whole thing. CEO Salim Dhanani called it significant for Georgia’s digital finance ecosystem, with his bank providing the compliant banking infrastructure that makes everything work legally. Without that partnership, Bybit probably couldn’t operate smoothly in Georgia’s regulatory environment.

The launch fits Bybit’s bigger mission perfectly. They want to build financial tools that actually connect cryptocurrency with traditional spending, not just create another crypto product that sits unused. Georgia represents a key market for Eastern European expansion, where interest in digital finance keeps growing. The country’s regulatory environment seems friendlier to crypto innovation than many other places.

Bybit’s timing looks smart – Georgia’s been warming up to digital currencies, and the government hasn’t cracked down like some neighbors. The exchange sees this as a testing ground for broader Eastern European rollouts. With over 80 million global users already, they’ve got the scale to make this work. The company’s known for secure custody and diverse trading options, so adding payments makes strategic sense. They’re not just another exchange anymore – they’re becoming a full financial services platform.

But things aren’t completely locked down yet. The launch still awaits some procedural developments and additional regional integrations, according to company statements. Bybit didn’t specify what those procedures involve or when they’ll wrap up. The physical card rollout depends on regional availability, which remains unclear. Some features might take time to activate fully across Georgia.

The cashback promotion runs for a limited time, though Bybit won’t say exactly how long. Users need to act fast if they want the full benefits. The company’s betting that once people try spending crypto through the card, they’ll stick around even after the promotional rates end. That’s probably a safe bet, given how convenient the card promises to be compared to traditional crypto-to-cash conversions. Bybit’s official site has more details about eligibility and terms.

Georgia’s crypto adoption has accelerated significantly over the past two years, with local surveys showing nearly 30% of young adults holding digital assets. The country’s National Bank has maintained a relatively hands-off approach compared to stricter regulations in neighboring Armenia and Turkey, creating space for fintech innovation.

Mastercard processed over $2.8 trillion in payment volume globally last year, making their network crucial for crypto card success. Their partnership with Bybit follows similar deals with other major exchanges like Coinbase and Crypto.com, signaling the payment giant’s commitment to digital asset integration despite regulatory uncertainties in various markets.