The National Bank of Georgia (NBG) has enacted new regulations permitting locally registered and licensed companies to issue stablecoins pegged to fiat currencies. These stablecoins must be fully backed by reserve assets and kept separate from the issuer's own assets. Issuers are required to register as Virtual Asset Service Providers (VASPs) and obtain regulatory approval, with regular independent audits mandated. If reserve assets exceed 15 million GEL, audits must be conducted by major firms such as Deloitte, PwC, EY, or KPMG.