- Ripple partners with National Bank of Georgia for Digital Lari CBDC pilot.
- Georgia selects Ripple after a rigorous technology partner selection process.
- Ripple’s ongoing dedication to advancing CBDC development and financial innovation.
Ripple Labs and the National Bank of Georgia have entered into a strategic partnership to propel the development of Digital Lari, the Central Bank Digital Currency (CBDC) of Georgia. According to an official statement from Ripple, the collaboration will involve the implementation and launch of a Digital Lari pilot program utilizing the Ripple CBDC Platform.
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The primary aim is to assess potential use cases and benefits of Digital Lari for both the public sector and retail businesses. The selection of Ripple as the technology partner for the Digital Lari project followed a rigorous selection process initiated by the National Bank of Georgia.
In September, the Georgian central bank outlined its plans to advance its CBDC project by introducing a Limited Access Live Pilot Environment and opting to work exclusively with one technology partner.
Nine companies were initially shortlisted based on their technological capabilities, experience, and commitment to the project’s success, with Ripple emerging as the preferred choice. The decision was made after considering factors such as Ripple’s deep understanding of the project’s objectives and its commitment to delivering results.
Ripple’s role in advancing digital currency and sustainability initiatives has garnered global recognition. Earlier, Currency Research honored Ripple for its contributions to CBDC innovation, highlighting the company’s forward-thinking approach in the realm of financial innovation.
The collaboration with the National Bank of Georgia and its Digital Lari project underscores Ripple’s dedication to assisting entities exploring CBDC implementations. In the past, Ripple partnered with Colombia’s Central Bank, Banco de la República, to explore blockchain technology use cases for the Digital Peso pilot, utilizing the Ripple CBDC Platform.
Ripple’s involvement in Digital Lari represents another significant milestone in the company’s ongoing commitment to fostering financial innovation and CBDC development worldwide.
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