Zolotaya Korona has resumed money transfers from Russia to Georgia following a four-month disruption, the TASS news agency reports.
The payment system cautions that funds can only be collected in cash at TBC Bank or deposited directly into an account with this bank exclusively. Previously, Zolotaya Korona transfers could also be cashed out at Bank of Georgia and through microfinance organizations.
Zolotaya Korona halted transfers to Georgia and several other countries after its operator, the non-bank credit organization Platyezhny Tsentr (Payment Center), came under European Union sanctions in July. The EU noted that the entity operates in a financial sector providing substantial revenue to the Russian authorities. Immediately following the designation, the option to send money to Georgia vanished from the service’s mobile application.
Zolotaya Korona remains one of the few viable conduits for sending money out of Russia. Following the invasion of Ukraine and subsequent international sanctions, major payment networks Visa and Mastercard exited Russia, and global banking transactions were severely curtailed. Under these conditions, Zolotaya Korona became one of the most widely used methods for cross-border remittances, particularly to Georgia, where tens of thousands of Russian citizens relocated after the start of the war.