Online money and cryptocurrencies in Georgia

2023. Tether signed a memorandum of cooperation with the Georgian government



Tether, the issuer of the USDT stablecoin, signed a memorandum of cooperation with the Georgian government. Tether will create a fund for local blockchain startups. The parties also agreed to partner in education, including launching educational programs at the University of Business and Technology in Tbilisi. The company and the Georgian government will also "explore the possibility of developing and implementing independent communications and financial systems."


2023. Binance opened regional office in Georgia



Cryptocurrency exchange Binance (with government support) has opened a regional office in Georgia to accelerate cryptocurrency adoption in the country. As of March 2023, the company's Georgian office has 25 employees, but it expects to hire "several dozen" more by the end of the year. Binance also signed a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA) to provide more educational and social initiatives in the field of blockchain technology to residents of the country. Last year, Binance also opened an office in Kazakhstan.


2022. Google Pay launched in Georgia



After a long wait, Georgian Android users will finally be able to pay with Google Pay (or more accurately, Google Wallet, as the app was recently renamed). This will also allow Georgian retailers to accept these payments and generate more revenue. Until now, only Apple Pay, available to iPhone users, was available in Georgia. Google Pay is a contactless mobile payment system that allows users to pay for purchases using their Android phone, tablet, or watch. Google Pay uses NFC (near-field communication) to transmit card information to the merchant.

2022. CityPay.io - cryptocurrency payment service for business



Georgian startup CityPay.io aims to make cryptocurrency payments accessible to any business. The startup has created an omnichannel crypto payment acceptance system that has demonstrated significant success both in Georgia and globally since 2021. The service allows for mass payments from crypto wallets online or by sending a personalized QR code. The developers claim that thanks to security and anonymity, customers spend twice as much in cryptocurrency as with traditional payment instruments. Furthermore, CityPay.io plans to implement cryptocurrency POS payments nationwide, thanks to special POS terminals that will soon be installed in pharmacies in several Georgian cities.


2014. Wallet One enters the Georgian market with a multi-currency e-wallet



Georgia has become the first country in the South Caucasus to launch its multicurrency e-wallet, the international payment system Wallet One. The local version of the product is fully adapted for local users, offering access to all key wallet features. By registering on the Wallet One website or downloading the mobile app (available for both iOS and Android), users can pay for services from 350 local providers, set up automatic recurring payments, and transfer money to friends and family. Over 100 international payment methods are available for depositing and withdrawing funds. Currently, users can convert Georgian lari into other currencies and exchange them back.


2013. PayPal comes to Georgia



PayPal, an online payment system owned by eBay Inc., has launched in Georgia. In a press release, PayPal stated that the launch of PayPal in Georgia comes amid a trend of expanding internet usage and growing e-commerce. In the first months of last year alone, the National Bank of Georgia recorded a record number of online transactions, growing by 162%. PayPal in Georgia is currently available to individual consumers, allowing them to accept payments and withdraw funds to their bank accounts. In the future, the system plans to offer additional services to business users in Georgia.


2010. QIWI now allows to withdraw money to card in 6 countries



QIWI payment system has added the ability to withdraw funds to VISA cards of any bank in Russia, Kazakhstan, Tajikistan, Ukraine, Uzbekistan and Georgia. This feature is implemented using the Visa Money Transfer system. Funds can be withdrawn to your own card or to the cards of others. The withdrawal fee for Russia is 2% + 20 rubles, and for other countries, 2% + 40 rubles. The transaction duration varies from a few hours to two days; the transfer period depends on the VISA card issuing bank. Please note that, depending on the specific bank, such transfers may have their own limitations. The most common limit is no more than 30,000 rubles per day per card/account number.


2006. Georgia has lost WebMoney

The National Bank of Georgia revoked the license of the Georgian commercial bank Tbilbusinessbank, where a WebMoney office is located. The first and only WM deposit and withdrawal point opened in Tbilisi at Tbilbusinessbank in the spring. However, it was not listed on WebMoney Geo's lists. This suggests that it was practically inactive, as the system's client "entry channel" is primarily online. According to WebMoney Geo, there are currently no WM wallet top-up points, exchange offices, or WM card sales outlets in Georgia. The number of certified users of the system in the country is 856.