Bybit has launched a Mastercard-powered payment card in Georgia, allowing residents to spend digital assets at any merchant that accepts Mastercard. The rollout, announced 29 Jan 2026, aims to simplify crypto-to-fiat spending for local users.
Georgia is seeing a rapid surge in cryptocurrency mining after the government legalized mining and the country’s low electricity costs attracted domestic and foreign operators. The buildout is driving new data-center builds but poses questions about grid capacity and regulation.
State authorities ordered Virtual Assets LLC to cease operations after the firm failed to demonstrate it was an authorized money transmitter. The action removes access to the company’s ATM network while regulators assess compliance.