Georgia exports copper, ferro-alloys, and gold — shipping from Poti and Batumi to Chinese, Turkish, and European buyers. But Georgian banks (TBC, Bank of Georgia) route USD payments through Turkish or Austrian correspondents, adding 15-25 days and enhanced compliance screening, particularly for trades perceived as Russia-adjacent. LCORE's gold DVP eliminates this chain: buyer deposits gold in Abu Dhabi, minerals load at Black Sea port, BL confirms departure, gold releases in 2-3 days.
Request ConsultationWhen GEL payments are blocked by correspondent banking compliance, LCORE's gold DVP provides a neutral Abu Dhabi alternative. Georgian commodity traders can deposit physical gold into DVP escrow -- commodity delivers -- payment in GEL confirms -- gold releases. 2-3 working days.
ADGM English Law governs. Lloyd's $200M insurance throughout. UAE geopolitically neutral -- not subject to US, EU, or UK sanctions regime.
Confidential. Min $5M. ADGM 28158.
Georgia serves as a critical Caucasian transit hub for Caspian energy — the BTC crude oil pipeline and South Caucasus gas pipeline both cross Georgian territory en route from Azerbaijan to Turkey. Domestic commodity exports include copper concentrate and copper blister from the Madneuli and Bolnisi-Kazreti mining complex, with Chinese, Bulgarian, and Turkish smelters as buyers. Manganese ore and ferroalloys from the Chiatura mines — one of the world's largest manganese deposits — export to Ukraine, Azerbaijan, and China. Georgian wine — particularly Kakheti's Rkatsiteli and Saperavi varieties — targets Russia (historically dominant), EU, China, and US markets. Fresh fruits (tangerines from Adjara, blueberries, kiwi) and hazelnuts export to EU and Russian buyers. Since 2022, Georgia has emerged as a Russia sanctions-related re-export corridor, handling significant volumes of electronics and machinery previously flowing through Russian distribution channels — creating complex new settlement demands.
The Georgian lari (GEL) is relatively stable but not internationally traded. Georgian banks — particularly TBC Bank and Bank of Georgia — have developed reasonably functional USD and EUR correspondent relationships, but face growing pressure since 2022 as Western banks scrutinise Georgia's role as a Russia sanctions evasion corridor. US and EU compliance teams increasingly flag Georgian-origin transactions for enhanced due diligence, particularly for commodity payments involving Russian-adjacent counterparties. SWIFT access is intact but individual transactions are increasingly delayed by enhanced KYC requests. The GEL is not convertible outside the South Caucasus region. Georgian copper and manganese exporters dealing with Chinese buyers face the China-Georgia correspondent bank gap — no direct USD channel exists, requiring Singapore or Turkish bank intermediaries. LCORE's gold DVP provides Georgian commodity exporters with a neutral Abu Dhabi settlement mechanism that sidesteps the Russia-adjacency compliance concerns while maintaining full ADGM regulatory transparency.