NBG Champions Startup Entry into Georgia's Highly Regulated Fintech Sector

NBG Champions Startup Entry into Georgia's Highly Regulated Fintech Sector

01 July, 2024

Varlam Ebanoidze, head of the National Bank of Georgia's Financial and Supervisory Technology Development Department, participated in the third regular investment ecosystem event in Tbilisi. The event, supported by the Georgian Business Angels Network, the European Business Angels Network, and the Global Business Angels Network, gathered entrepreneurs, startups, angel investors, and over 70 guests interested in the field.


During the three-day summit, Georgian startups presented their innovations to angel investors. Ebanoidze joined a panel discussion where he spoke about the potential for fintech industry growth in Georgia.


He emphasized NBG's commitment to fostering a regulatory environment conducive to fintech innovation, stating, "NBG actively promotes the creation of a friendly regulatory environment for fintech. We are eager, within our mandate, to proactively facilitate the entry of startups into this highly regulated field."


Ebanoidze also highlighted the importance of infrastructure development, including blockchain and other technologies that can offer significant advantages to users. He mentioned NBG's efforts to create an ecosystem connecting fintech and fintech-based cooperation to the middle corridor.


"We were among the first to introduce the concept of connecting fintech and fintech-based cooperation to the middle corridor," said Ebanoidze. "We believe that new technologies and interoperability between countries will ensure the acceleration of trade growth in this corridor."