Cryptocurrency has long become a familiar financial instrument. Stablecoins are used for savings and international payments, while Bitcoin is purchased by both private investors and funds.
Interest in cryptocurrency is even higher in Georgia. Individuals do not pay tax on income from its sale, market rules are clearly defined, and major international exchanges open local companies here. Crypto exchange signs in Tbilisi and Batumi have long ceased to surprise anyone, and the main factor when choosing a service is its license.
What is a VASP license and why does a client need it
Since 2023, every company that exchanges, stores, or transfers cryptocurrency for clients has been required to register with the National Bank of Georgia as a Virtual Asset Service Provider (VASP). In everyday use, such registration is commonly referred to as a license, and operating without it is prohibited.
Obtaining this status is not easy: the National Bank examines the company’s business model, beneficiaries, source of capital, and transaction monitoring system. After registration, an exchange must verify clients under KYC and AML rules and comply with sanctions imposed by the United States, the United Kingdom, and the European Union.
For the client, this means a lower risk of receiving “dirty” money and receiving documentation for each transaction that can be shown to a bank. In addition, Georgian financial institutions are prohibited from working with unlicensed providers, so a transfer from a legal exchange raises far fewer questions from a bank.
How to check an exchange’s registration
The provider register is published on the National Bank’s website at nbg.gov.ge and currently includes around 40 companies. There are several details to keep in mind when checking.
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The brand name and legal entity often differ. For example, GeCrypto operates as SMARTFINSERVICE LLC, so it is best to search by the company name or registration number.
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Numbers in the register have the format XXXX-9404 and must match the number shown on the exchange’s website.
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Since January 1, 2026, a VASP has been required to display its registration act in its office, on its website, and in its application. If the document cannot be found anywhere, this is a reason for caution.
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Registration in a free industrial zone does not replace VASP status.
List of licensed crypto exchanges in Georgia
1. GeCrypto
Website: gecrypto.com
Legal entity and registration number: SMARTFINSERVICE LLC, 0018-9404
GeCrypto has operated in Tbilisi since 2022 and was among the first companies in the country to obtain VASP registration in October 2024. Forbes describes the company as Georgia’s largest OTC desk.
The service covers virtually any exchange need. Cash in US dollars is available at the office at 5 Marjanishvili Street. Transfers in Georgian lari, US dollars, euros, and dirhams are sent to TBC, Bank of Georgia, Credo, Liberty, and other banks, usually within an hour, while transfers to foreign accounts are available via SWIFT, SEPA, and ACH. Supported assets include USDT, BTC, ETH, SOL, USDC, and other popular coins.
The company specializes in large transactions: deals starting from $100,000 are routine here, and larger volumes receive more favorable rates. For businesses, there is a dedicated service with a personal manager and accounting documentation. After each transaction, the client receives a receipt issued in their name confirming the source of funds.
The rating on Google Maps is 4.9 based on more than 1,100 reviews, while the Trustpilot rating is 4.6. Managers speak Russian, English, and Georgian. In terms of overall capabilities, it is an optimal choice for both private clients and companies.
2. AllTrust
Website: alltrust.me
Registration number: 0010-9404
Operating since 2019, the company has locations in Tbilisi, Batumi, Rustavi, and a 24-hour location at Tbilisi Airport. Cryptocurrency can be purchased with Visa or Mastercard, and funds can be withdrawn to TBC, Credo, Bank of Georgia, or Liberty. Mobile applications and a product for companies are also available.
3. Werty
Website: werty.tech
Legal entity and registration number: Unotron LLC, 0021-9404
It has offices in Tbilisi, Batumi, and at the car market in Rustavi, which makes the service popular among car dealers. It works with USDT, BTC, and ETH, pays out cash in US dollars, euros, and lari, and transfers funds to TBC, Credo, and Bank of Georgia. Incoming cryptocurrency is checked through AMLBot.
4. Cryptal
Website: cryptal.com
Legal entity and registration number: Digital Ledger Technologies LLC, 0002-9404
A Tbilisi-based online exchange where users can buy, sell, and convert BTC, ETH, USDT, LTC, and other assets for Georgian lari, US dollars, and euros. In addition to instant purchases, limit orders are available, while large transactions are handled by an OTC desk.
5. Coinmania
Website: coinmania.exchange
Legal entity and registration number: Coinmania LLC, 0013-9404
A service with a crypto wallet that has operated since 2017. The application allows users to buy or sell BTC, ETH, and USDT, store assets, and withdraw Georgian lari to a bank account for a fixed fee.
6. Bitcasa
Website: bitcasa.ge
Legal entity and registration number: IXI LLC, 0032-9404
A small exchange point at 40 Rustaveli Avenue, registered in December 2025. It works only with cash and is suitable for a quick one-off transaction in the city center.
How to avoid an unregulated “grey” exchange
Fraudsters create websites with similar domain names and Telegram accounts using the logos of well-known services, so exchange contact details should only be taken from the official website. Promises of exchange without verification, refusal to issue a receipt, and the absence of the company from the register should all be considered warning signs.
The cost of a mistake can be high. In August 2026, the U.S. Department of the Treasury imposed sanctions on Georgia-registered company SHPS Shelbit over cryptocurrency transactions linked to the Islamic Revolutionary Guard Corps. The National Bank clarified that the company had never applied for VASP status. Money that has passed through such platforms can raise serious questions from banks, so checking the register before a transaction takes only a few minutes and can help avoid major problems.
