Georgian Economy Minister, Revolut Deputy CEO discuss “great” opportunities for fintech sector development
It was noted that Revolut, a British financial technology company that offers banking services to more than 25 million users worldwide, would launch a simplified version of its application in Georgia next year, designed both for the locals and Georgian emigrants, the Economy Ministry said. Photo: Economy Ministry
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The “great” opportunities for the development of the financial technology sector in Georgia, the “favourable” normative base for it and the political will of the country’s Government to establish a “regional-scale” fintech hub in Georgia were discussed on Friday by Georgian Economy Minister Levan Davitashvili and Andrius Bičeika, the Deputy CEO and Board Member of Revolut.
At the meeting, Davitashvili highlighted that Georgia has been working on the “improvement” of the normative base for the development of innovative technologies in the county, including the creation of innovative financial products. He also noted that the Economy Ministry welcomed the entry of innovative businesses to Georgia and their establishment in the local market, as well as the development of technologies, which would enable Georgian citizens to carry out various financial operations “easily, safely and at a lower cost”.
It was noted that Revolut, a British financial technology company that offers banking services to more than 25 million users worldwide, would launch a simplified version of its application in Georgia next year, designed both for the locals and Georgian emigrants, the Economy Ministry said.
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Revolut, a British financial technology company offering banking services, plans to launch a simplified version of the Revolut app for Georgian customers next year to enable money transfers to more than 50 countries using over 30 currencies, the company announced on Thursday.
The Deputy Economy Minister Irakli Nadareishvili and Avtandil Kasradze, the Head of the Innovation and Technology Agency on Saturday discussed directions for further cooperation, including the implementation of the IT training project in five regions of Georgia, with the representatives of the European Bank for Reconstruction and Development and StrategEast organisation.
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