Russian citizens actively use cryptocurrency in Georgia

Georgia is keeping up with modern global trends, in particular, the volume of transactions in cryptocurrency is growing,” said Iosif Bolkvadze, founder of the Cryptx IQ crypto exchange.

According to him, in Georgia, the turnover of cryptocurrencies grew especially noticeably during the Russian-Ukrainian war, and this is due to the large number of Russian citizens who arrived in the country.

“Due to sanctions, they have significant restrictions on the use of regular currency, their accounts are blocked, and plastic cards do not work. In this situation, cryptocurrency is one of the most optimal ways to pay for certain goods and services. As a result, the demand for cryptocurrency has grown,” he said.