USDT for lari holders: the route to a dollar-denominated asset
Lari holders in Georgia use USDT as a way to preserve savings in dollar equivalent without opening a dollar account. USDT is pegged to USD at 1:1 and operates across several blockchain networks (TRC-20, ERC-20, and others). The GEL -> USDT exchange route via ATM24 is handled remotely; for those who want to lock in a dollar position without banking formalities - this is a practical tool.
Expats in Georgia and stablecoins: why USDT is used in some transactions; the status of an operation depends on the type of deal and provider
After 2022, Tbilisi received hundreds of thousands of expats from Russia, Ukraine, and Belarus. Many of them work remotely and receive income in foreign currency - often in USDT or other stablecoins. Lari is needed for rent, purchases, and local expenses. Converting USDT -> GEL became a regular financial step for this audience. ATM24 handles it without an office visit.
TRC-20 or ERC-20 when withdrawing from GEL: the technical choice
USDT operates across several incompatible networks. When sending and receiving the stablecoin, it is important that the sender's network matches the recipient's network. TRC-20 (Tron) - lower transaction fees. ERC-20 (Ethereum) - broader support on exchanges and in DeFi. Confirm the supported network with ATM24 before sending to avoid loss of funds.
For lari holders looking to move savings into a stablecoin, ATM24 processes GEL to USDT conversion remotely. It is important to agree on the network (TRC-20 or ERC-20) before starting the operation: network mismatch is the most common technical error when working with USDT.
Georgian banks' approach to crypto operations varies: many accept an explanation of the origin of crypto funds, and the provider's status should be verified when converting. This makes Georgia a convenient jurisdiction for those who want to legally withdraw USDT to lari without the risk of account freezing.
The scope of identity verification (KYC) and source of funds checks (AML) is determined by applicable law and the transaction amount; specific requirements are provided by the manager before payment.
Crypto asset transactions carry regulatory risks; their permissibility depends on the jurisdiction of the parties and may change. Before a transaction, independently assess the applicable restrictions; the manager confirms the possibility and terms of a specific transaction before payment.