The National Bank of Georgia has opened participation to brokerage companies under its supervision in a regulatory sandbox project focused on tokenized bonds, aiming to test new models for bond issuance, recording, and trading using digital tokens while informing the development of an appropriate regulatory framework. Tokenized bonds are described as a digital equivalent of traditional bonds in which issuer obligations are represented as programmable tokens, intended to enable more efficient issuance and automated servicing. The central bank expects the project to support the development of financial instruments, simplify investment processes, increase liquidity, reduce transaction costs, and diversify the financial ecosystem, and notes potential appeal for both corporate issuers and small and medium-sized investors. Interested parties can submit tokenized bond issuance schemes electronically for review under established procedures, and the initiative is not presented as a promise of licensing, registration, recognition, authorization, or a pre-commitment to any specific regulatory framework.
National Bank of Georgia 2026-04-16
National Bank of Georgia invites supervised brokerages to join regulatory sandbox for tokenized bonds
The National Bank of Georgia has opened its regulatory sandbox on tokenized bonds to supervised brokerage companies to test new models for bond issuance, recording, and trading using digital tokens and to inform future regulation. Tokenized bonds are positioned as programmable digital equivalents of traditional bonds intended to improve issuance efficiency, automate servicing, increase liquidity, reduce transaction costs, and broaden access for corporate issuers and small investors, without implying any licensing or regulatory pre-commitment.