The National Bank of Georgia in collaboration with the World Bank has developed a strategy for the development of the country’s fintech sector.

The goal of the strategy is formation of an integrated ecosystem that will facilitate interaction between public and private organizations at the national and international levels.

The key components of the strategy include reducing market entry barriers for emerging players and modernizing the financial infrastructure.

Planned projects include initiatives like open financing, launching CBDC and implementation of an instant payments system.

The key priorities of the strategy are:

• Promoting regulatory-driven innovations to enhance the financial sector’s responsiveness to emerging technologies;

• Fostering early-stage technology testing and development of modern infrastructure using blockchain;

• Development of international cooperation, including participation in the mBridge project designed to reinforce international trade links through wholesale CBDCs.

The partner of Fintech section is