Crypto-to-fiat Exchange

EN

In 2024, Georgia's crypto market entered a new phase. Strengthened regulations from the National Bank, growing interest from major investors and institutional clients — all of this demanded maximum transparency and regulatory compliance from market players.
For GeCrypto, obtaining a VASP license was a strategic step toward building a sustainable crypto exchange business. The license opened new opportunities: legally protected operations, access to banking tools, and increased trust from clients and partners.

The VASP (Virtual Asset Service Provider) licensing procedure takes a comprehensive approach to business operations — from company structure to internal risk management. The process includes several key stages:

1. Company registration
2. Verification of beneficiaries
3. Development of AML/CTF policy and business process documentation
4. Writing a detailed business plan
5. Description of all operational and technical processes
6. Preparation of internal controls, security, and reporting procedures
7. Multiple interactions with the regulator, responses to inquiries, and revisions

In our case, the full path from preparation to obtaining the license took about a year. GeCrypto received the license in October 2024 and launched operations under the new status in November 2024.

During the preparation phase, it became clear that not all tasks could be handled by generic service providers. Two critical areas required specialized expertise:

• Crafting a business plan that met National Bank standards
• Developing AML/CTF documentation and internal policies for crime prevention

While searching for a qualified partner, we discovered PB Services. From the first meetings, their team demonstrated a strong understanding of the regulatory landscape for crypto in Georgia.

PB Services took full responsibility for two critical components — the business plan and the AML/CTF policy, including internal procedures and risk management documentation.

Their work was fast and well-coordinated:

• They delivered the required documentation in 2–3 months
• Helped adapt materials per National Bank requests
• Advised us on refinements and compliance nuances

Their involvement was one of the key factors in successfully obtaining the license. We appreciated not only the quality of their work but also the depth of their engagement with our business.

Even after the main stage, PB Services continued supporting GeCrypto — now as a back-office partner in HR, accounting, and legal services.

Today, GeCrypto is a licensed crypto exchange in Georgia, fully compliant with the standards of the National Bank and international compliance protocols.

Our clients receive:

• Reliable USDT ↔ USD exchange operations at transparent rates
• A physical office in Tbilisi with guaranteed transaction security
• Personal support in Russian, English, and Georgian
• Legal protection of all transactions and verified VASP status

We work with both individual clients and corporate partners who value clean legal processes, ease of cooperation, and fast deal execution.

Obtaining the VASP license was a major milestone for our company — and a step toward building a civilized crypto market in the region.

Thanks to our partnership with PB Services, we not only became one of the first to receive the license but also laid a solid foundation for future growth.

If you're looking for a trusted partner for crypto exchange in Georgia — GeCrypto offers not just favorable conditions but also the highest transparency backed by an official license.

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