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National Bank of Georgia taps Ripple for CBDC pilot | Fintech InShorts: Latest fintech news, analysis by experts

Less than 1 min.Read

National Bank of Georgia taps Ripple for CBDC pilot

By Laura M

November 6, 2023

The National Bank of Georgia selected Ripple as its technology partner for a digital lari pilot project.
Georgia’s central bank plans to explore the benefits of a digital currency for the public sector, businesses, and retail users using Ripple’s CBDC platform.
Ripple was chosen after a competitive selection process due to its deep understanding of the project, commitment to success, and experience in conducting similar pilots with other countries.
Ripple has partnered with several other countries, including the Republic of Palau, Colombia, and Montenegro, for similar pilot projects.
Ripple is in discussions with more than 20 countries worldwide for potential partnerships.
James Wallis, VP of central bank engagements at Ripple, believes this partnership will lead to transformative advancements in blockchain technology use within the public sector.

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