Ambry: We are Launching New Product for the Financial Sector, Including Banks

From September, Ambry will offer a new finished product to the financial sector, including banks.

As Luka Lomsadze, the founder of Ambry told bm.ge, this will be a product with the help of which banks will provide services to those individuals who deposit money into the bank through cryptocurrencies, NFT, or mining.

According to him, the startup has not opened an investment round yet and is in the process of adapting the platform model to the financial sector as much as possible.

"From September, we will offer the finished product to the financial sector, including banks, with the help of which they will be able to easily provide services to those who deposit money through cryptocurrency, NFT, and mining. As a result, with the help of our product, banks will not lose their potential customers who can return the money to their space.

As for the investment round, we are not opening it yet. At this stage, we are finalizing the model of our platform, so that it is maximally adjusted to the financial sector, as soon as we see how the Georgian market will adapt, we will open a new round of investment, "- said Luka Lomsadze.

The founder of Ambry also talks about the depreciation of cryptocurrency and as he explains, it is the result of inflation.

"The price of cryptocurrency is falling due to inflation. But we have seen a similar reduction scenario a few years ago and then we saw its recovery soon after. We expect the value of cryptocurrency to rise again," he said.

Note: Ambry is a Georgian startup that helps companies and individuals check any cryptocurrency transaction.