ChainArgos at the GFTN Tbilisi Finance Summit:
Georgia Demonstrates How Good Regulation
Becomes Great Execution

Tbilisi, GEORGIA – ChainArgos General Counsel Patrick Tan moderated VASP 2.0: Gaps and Opportunities at the Global Finance & Technology Network (GFTN) Tbilisi Finance Summit on 27 October 2026, held at the Sheraton Grand Tbilisi Metechi Palace.

The panel brought together perspectives from regulation, banking and payments, legal practice, compliance technology and entrepreneurship to explore how jurisdictions can turn regulatory ambition into a functioning virtual asset market.

For jurisdictions seeking to attract virtual asset service providers (VASPs), the opportunity lies in creating the conditions for responsible businesses to establish themselves, grow and stay. For ChainArgos, three priorities stand out: sound regulatory foundations, effective connections across the financial sector, and cooperation across borders.

Emerging virtual asset hubs can draw on the successes and difficulties of markets that moved first. Thoughtful rules, consistent supervision and an understanding of how businesses actually operate help turn initial interest into lasting investment.

Georgia provides a valuable setting for this conversation. As jurisdictions develop their VASP frameworks, the practical challenge is to ensure that regulatory clarity translates into confidence for businesses, customers and counterparties. The quality of execution matters throughout that process.

VASPs depend on relationships with banks, payment service providers, legal advisers and compliance providers. These connections are essential to translating a regulatory framework into a functioning business.

Digital banks and payment service providers are particularly relevant where their activities intersect with virtual asset services and mixed business models. Effective cooperation between regulators and the private sector can help businesses implement practical controls, access financial services and build sustainable relationships.

Talent, digital connectivity and coordination between jurisdictions all shape competitiveness. Georgia and Kazakhstan offer a valuable setting to explore how these elements can support a more connected regional virtual asset market.

For businesses evaluating where to establish and grow, the ability to recruit skilled people, connect with international partners and navigate cross-border requirements is central to long-term success. Building a trusted hub requires those capabilities to develop alongside the regulatory framework.

ChainArgos thanks the panellists for sharing their expertise:

• Kat Cloud – Head of Government Relations, Sumsub
• Mariam Malazonia – Acting Head of Payment Service Providers and Virtual Asset Service Providers Supervision Department, National Bank of Georgia
• Maxim Kon – Board Member & CEO, Crypto Valley Association / Consultiks
• Talgat Dossanov – Country Lead, Superteam Kazakhstan / Network School Kazakhstan
• Tamta Ivanishvili – Partner & CEO, BLC Law Office

Our sincere thanks to GFTN, the National Bank of Georgia and the organising team for the invitation and warm hospitality. ChainArgos was pleased to contribute to this conversation on the practical foundations of a trusted virtual asset market and the growth of the industry in Tbilisi.