June 24, 2024
Ripple to Fuel Georgia's Digital Lari for Central Bank
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Ripple to Fuel Georgia’s Digital Lari for Central Bank

Ripple Labs has been chosen by the National Bank of Georgia (NBG) as the official technology partner for the development of the digital lari, Georgia’s central bank digital currency (CBDC) project. Ripple’s role in this partnership will involve implementing and deploying the digital lari pilot through the Ripple CBDC Platform. The NBG aims to assess the potential applications of the digital lari for the government, enterprises, and retail users.

The selection process for Ripple as the technology partner was thorough and considered factors such as the understanding of project objectives, relevant experience, and a commitment to project success. Ripple’s involvement in advancing digital currencies and sustainability initiatives has gained recognition, particularly in the context of central bank digital currencies.

Before this collaboration with the NBG, Ripple had already been active in partnering with other institutions, such as Colombia’s central bank, Banco de la República, to explore blockchain technology applications for their digital peso pilot using the Ripple CBDC Platform.

Image by macrovector on Freepik

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