The Vice-Governor of the National Bank of Georgia (NBG), Nino Jeladze, participated in a panel discussion held within the framework of the 51st International Banking Conference, jointly organized by the Banking Association for Central and Eastern Europe (BACEE) and Cartu Bank.

During the panel discussion, the NBG Vice-Governor spoke about the central bank's role in supporting financial technologies and fostering an innovative environment in Georgia.

According to Nino Jeladze, while maintaining its core mandate of price and financial stability, the National Bank of Georgia is actively working to promote innovation. As she noted, the NBG has introduced forward-looking regulatory frameworks for the registration of digital banks and Virtual Asset Service Providers (VASPs), significantly facilitating market entry for fintech companies.

“Georgia's financial ecosystem is developing rapidly. New types of institutions, particularly Virtual Asset Service Providers, are shaping a new chapter in the country's financial history. Today, 33 Virtual Asset Service Providers operate in the market. We also observe an emerging trend, with international VASPs entering Georgia and establishing hybrid models that bridge traditional finance with digital assets. Interest from commercial banks is also increasing: some already offer virtual asset services, while others are preparing to do so,” stated Nino Jeladze.

The conference also placed special emphasis on the new regulation governing the issuance of stablecoins. According to Nino Jeladze, until now, stablecoin issuance in Georgia had not been regulated, creating uncertainty for both market participants and consumers. The new framework ensures clarity, strengthens trust, and introduces consumer protection mechanisms.

She emphasized that the NBG’s new regulation aims to protect consumer rights, enhance risk management standards, and align with international best practices, thereby supporting the sustainable development of the stablecoin ecosystem in Georgia.

“These initiatives once again reaffirm that the National Bank of Georgia actively supports innovation and creates a favorable environment for the adoption of new technologies, while at the same time ensuring financial system stability and consumer protection,” noted the NBG Vice-Governor.

In addition, Alexander Khazaradze, Head of the NBG Financial Markets Department, and Alexander Ergeshidze, Head of the Specialized Risk Department, also participated in panel discussions held within the conference.

In his remarks, Alexander Khazaradze discussed the advantages of the banking sector’s growth, noting that a strong banking system remains one of Georgia’s key strengths at this stage.

Alexander Ergeshidze focused on operational risk frameworks and advanced risk management. He noted that existing frameworks are evolving in the right direction; however, the focus is increasingly shifting toward resilience as a core principle, rather than mere regulatory compliance. According to him, future success will depend more on building genuinely resilient institutions those capable of anticipating, absorbing, and rapidly recovering from disruptions in an increasingly complex digital ecosystem.