Bybit CEO Shota Lomtadze stated that the introduction of the digital lari could enhance the efficiency of Georgia’s financial system. In his view, the digital currency will simplify international settlements, accelerate transfers, and help cut associated costs. Unlike traditional cross-border payments, such transactions could potentially reduce dependence on SWIFT infrastructure. At the same time, Lomtadze emphasized that the project is primarily of national importance, although international companies may also reap the benefits.
The head of Bybit also noted growing interest in the Tbilisi Financial Summit, in which the company is participating for the second year in a row. This year, the number of delegates exceeded 1,000, which, according to Lomtadze, reflects increasing international business confidence in Georgia. Meanwhile, the country’s parliament fast-tracked a package of amendments defining the legal status of the digital lari and expanding the powers of the National Bank in the sphere of digital money.
Under the new provisions, the National Bank of Georgia will gain the exclusive right to issue cash and digital lari into circulation. The issued digital currency will become an unconditional obligation of the regulator at nominal value. The central bank will also control the supply of cash and digital money and determine their issuance plan. At the same time, the law expressly prohibits issuing digital lari to directly finance the state budget deficit.