GeCrypto Expands Its Crypto-to-Cash OTC Exchange in Georgia with Bank Transfers and New Currencies

GeCrypto, one of the largest licensed crypto-to-fiat OTC exchanges in Georgia, is expanding the currencies and payout methods it supports. GeCrypto has been a go-to venue for converting USDT to USD cash in Tbilisi since 2022. Starting this month, it also processes bank transfers in USD, EUR, GEL and AED to leading Georgian banks and to international bank accounts through SWIFT.

On top of that, the OTC trading menu has grown beyond USDT. GeCrypto now executes trades in Bitcoin, Ethereum and other major cryptocurrencies for both retail and corporate clients, alongside its core stablecoin flow. Clients can mix and match: sell USDT for cash in Tbilisi today, then come back next week to buy Bitcoin for USD via SWIFT.

The expansion lands at a time of rapid change in Georgia’s crypto market. The country’s Virtual Asset Service Provider (VASP) framework took effect on July 1, 2023, putting all licensed crypto businesses under the supervision of the National Bank of Georgia (NBG). The rules are strict by regional standards: registered VASPs have to run a full AML and KYC program, vet their owners and managers under fit-and-proper criteria, file IFRS-audited annual statements and submit quarterly reports to the regulator. Several smaller desks shut down or pulled out of the country after the regime took effect, but the exchanges that earned a VASP registration and stayed are now offering some of the most compliant crypto-to-cash services in the Caucasus.

Speaking on the launch, Yaroslav Bulatov, Head of Product at GeCrypto, said: Georgia is one of the most innovative crypto jurisdictions in our region, and that is not because the rules are loose; it is because they are clear. When a client wants to move a million dollars from USDT into a bank account, they need a counterparty that operates under a licence, prepares the right documentation, and will not disappear when a bank later asks for source-of-funds confirmation. Adding bank-transfer settlement to our OTC desk is a natural step: it lets us serve businesses and large investors end-to-end.

The country’s emergence as a regulated crypto hub has been publicly recognised by industry leaders. Speaking at the official launch of Bybit Georgia in March 2026, Natia Turnava, Governor of the National Bank of Georgia, said the country “has emerged as a regional FinTech hub that will strengthen economic ties between Europe and Asia.” At the same event, Bybit Co-founder and CEO Ben Zhou described Georgia as “becoming a model for how crypto companies can embed themselves into a country’s financial fabric”.

GeCrypto’s expansion reflects a broader shift visible across the Caucasus: as compliance-grade infrastructure replaces informal channels, the question for large holders of USDT or Bitcoin is no longer whether to cash out but how to do so on terms that banks, accountants and tax authorities can all accept. With direct settlement to Georgian and international banks, or in cash, the company is positioning itself as one of the most flexible licensed crypto off-ramps in the region.

About GeCrypto

GeCrypto is a crypto-to-fiat OTC exchange based in Tbilisi, Georgia. The company helps individuals and businesses exchange crypto to cash and bank transfers in Georgia and internationally. Supported assets include USDT, Bitcoin, Ethereum and other major cryptocurrencies, with payouts in USD, EUR, GEL and AED through cash settlement, transfers to Georgian banks (Bank of Georgia, TBC, Liberty and others), or international wires via SWIFT. GeCrypto has been operating since 2022, has served more than 10,000 clients, and is officially registered with the National Bank of Georgia under Georgia’s Virtual Asset Service Provider framework.