WhiteBIT wins approval for crypto derivatives trading in Georgia

Leading European crypto exchange WhiteBIT has obtained a license in Georgia that will allow it to start trading derivatives based on digital assets.

The Ukrainian-rooted coin trading platform already offers spot trading in the country, which is a promising market with crypto-friendly regulation.

Crypto exchange WhiteBIT secures broker license in Georgia

Popular European cryptocurrency exchange WhiteBIT has been issued a broker license by the monetary authority of Georgia, the company announced Tuesday.

The authorization, granted by the National Bank of Georgia (NBG) to its local entity, WhiteBIT Broker, will allow it to begin trading crypto derivatives, including perpetual futures.

WhiteBIT currently supports spot trading for Georgian customers through a separate subsidiary, the platform noted in the press release, highlighting:

“The newly licensed WhiteBIT Broker will focus on providing regulated access to derivatives and other broker-led financial instruments, also accessible through whitebit[.]ge”

The regulatory approval provides Georgian traders and investors with access to a compliant platform for crypto derivatives that offers protection for capital, the exchange emphasized.

The licensing, secured in collaboration with the consulting firm Clarsen, is part of WhiteBIT’s push to expand across regulated markets.

The company believes it will also help the development of the digital asset ecosystem of Georgia, which has established itself as an emerging crypto hub.

Cryptocurrencies have enjoyed a growing popularity in the South Caucasian nation, which has a favorable regulatory framework in place.

According to the 2025 Global Crypto Adoption Index by Chainalysis, Georgia is a leading destination in terms of crypto adoption, the exchange remarked.

When adjusted for population size, the blockchain analytics firm’s index ranks it third, right after Ukraine and Moldova, two other former Soviet republics in Eastern Europe.

Georgia on its way to becoming a regional crypto hub

WhiteBIT believes its expansion in Georgia will help reinforce the country’s position as a new center for financial innovation in the region.

The small nation appeared on the global crypto map as a mining hotspot a few years ago. It offers companies in the industry low-cost hydroelectric power and friendly regulations.

This week, the Georgian energy and water supply regulator, GNERC, unveiled that electricity usage in the sector, which doubled in 2025, has continued to grow in 2026, despite the market downturn.

The majority of the data processing centers in the country, located in free economic and industrial zones, are engaged in the minting of digital coins.

But it’s not just mining that Georgia is actively supporting. For example, its central bank recently allowed companies to issue asset-backed stablecoins, as reported by Cryptopolitan.

Besides, the government in Tbilisi maintains a crypto-friendly tax regime. It does not collect capital gains tax or personal income tax on trading profits from individuals, which it considers foreign-sourced.

WhiteBIT is arguably Europe’s largest cryptocurrency exchange by traffic. It offers more than 340 assets and over 900 trading pairs and supports eight fiat currencies.

The platform, founded by Ukrainian entrepreneur Volodymyr Nosov in 2018, is registered in Lithuania as part of the W Group and has a global reach, with more than 35 million users worldwide.

Nosov, who is also WhiteBIT’s chief executive, has gained recognition for his and his company’s role in promoting crypto adoption, including in his native Ukraine.

They have actively supported the country in the face of the full-scale military invasion launched by Russia in early 2022, for which the entrepreneur received several national honors.

In January of this year, the authorities in Moscow declared WhiteBIT’s activities “undesirable” in the Russian Federation, although the exchange had long pulled out of this market.

As evident from the Georgian licensing, Russia’s move is not having any significant effect on its expansion elsewhere in the region.

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