Several Georgian banks have applied for direct connection to the Chinese Cross-Border Interbank Payment System (CIPS). This was reported by the National Bank of Georgia following negotiations between the President of the regulator, Natia Turnava, and the head of CIPS, Fu Huan. The NBG notes that the Chinese side is already considering the applications, and the process is progressing quite actively.

Currently, most Georgian banks work with CIPS as indirect participants - through correspondent accounts in Chinese financial institutions. Direct connection should simplify and speed up settlements in yuan, reduce operating costs, and decrease dependence on intermediaries in cross-border payments.

The National Bank emphasized that cooperation with CIPS in 2025 was particularly intensive. The parties are discussing further integration of payment systems and expansion of Georgian banks' participation. CIPS has been operating since 2015 under the management of the People's Bank of China and unites more than 4.9 thousand financial institutions from 189 countries. Georgia and China have been developing a strategic partnership since 2023 and are consistently deepening financial cooperation.