The National Bank of Georgia invites supervised entities to participate in the Regulatory Sandbox’s tokenized deposits project. Participant must take the following into account:

The goal of the project is to create a regulatory framework by the National Bank of Georgia, with the involvement of stakeholders in this process.

At the current stage, the country's financial ecosystem does not regulate the use and offering of deposits and certificates of recorded through Distributed Ledger Technology (DLT).

 

This project will potentially contribute to:

• Creation of new financial products
• Diversity of the financial ecosystem
• Development of a secondary market for certificates of deposit
• Raising financial awareness
• Greater flexibility and diversification of deposit products
• Optimization of product-related costs by introducing new technology

Interested financial institutions have the opportunity to electronically submit their own schemes for issuing tokenized deposits that comply with the law. The National Bank will review these schemes in accordance with the established procedure.

The National Bank supports the development of the FinTech sector, and this project is another step in this direction. The National Bank is ready to receive applications from interested parties from February 15, 2025. Additional information about the Regulatory Sandbox can be found at the following link.

Interested parties can contact the Innovation Office of the National Bank of Georgia for additional information and to participate in the Regulatory Lab project: innovationoffice@nbg.gov.ge

This should not be understood as a promise to issue a license, register, recognize, authorize, or/and to develop a regulatory/legislative framework in favor of a specific entity.