National Bank of Georgia outlines stablecoin issuance rules and digital finance entry frameworks at BACEE conference

In a panel discussion at the 51st International Banking Conference co-organized by the Banking Association for Central and Eastern Europe and Cartu Bank, National Bank of Georgia (NBG) Vice-Governor Nino Jeladze highlighted the central bank’s work to support financial technologies while maintaining its price and financial stability mandate. The remarks focused on NBG regulatory frameworks for the registration of digital banks and Virtual Asset Service Providers (VASPs), as well as a new framework governing the issuance of stablecoins. The speech described these frameworks as forward-looking measures intended to facilitate fintech market entry. Jeladze noted that 33 VASPs currently operate in Georgia, with international VASPs entering and establishing hybrid models that connect traditional finance with digital assets, alongside growing interest from commercial banks, some of which already offer virtual asset services. On stablecoins, Jeladze said issuance had previously been unregulated, creating uncertainty for market participants and consumers, and that the new framework provides clarity, strengthens trust, and introduces consumer protection mechanisms, with a focus on consumer rights, risk management standards, and alignment with international best practices. NBG officials Alexander Khazaradze and Alexander Ergeshidze also contributed on banking sector growth and the shift in operational risk management toward resilience.