Tbilisi, the capital of Georgia, is becoming a hub of cryptocurrency activity due to the convenience of electronic payments and local government support.
History of Cryptocurrency in Tbilisi
Tbilisi and Georgia have a long and complex history. Over the centuries, the city has been a point of rivalry and occupation by various empires, including the Roman, Persian, and Ottoman. Today, the city is inhabited by ethnic Georgians and significant communities from Russia, Azerbaijan, Armenia, and Ukraine. Recently, Tbilisi has attracted digital nomads thanks to its easy visa regime, low tax rates, and relatively low cost of living.
Crypto Culture and Events
In Georgia, cryptocurrency is mainly used for payments rather than as an investment vehicle. Remittances are especially popular, with stablecoins like USDC and USDT on Tron and Solana blockchains being widely used. Tbilisi hosts informal crypto meetups, conferences, and hackathons with international guests and speakers. The Georgian government supports the cryptocurrency industry, including providing grants to startups through the Georgian Innovation and Technology Agency (GITA).
Financial Infrastructure and Projects
Tbilisi and Georgia are home to numerous cryptocurrency and blockchain projects, such as Bitfury and Ripple. Local companies, including Degamefi, Bitnet, and Arena Games, are actively expanding. The city's banking infrastructure includes major commercial banks like TBC Bank and Bank of Georgia, which support rapid transfers and various service integrations. Cryptocurrency ATMs and exchange points are common in the city.
Tbilisi continues to grow as a center of cryptocurrency activity, attracting startups and initiatives from around the world. With the increasing number of companies accepting cryptocurrency and supporting blockchain technologies, the city has the potential to become a significant player in the cryptocurrency arena.
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