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San Francisco-based payments company Ripple is working with Georgia National Bank (NBG) to digitize the local economy.
Acting Governor Natia Turnava and Varlam Ebanoidze, head of the NBG's technical development department, recently met with Ripple CEO James Wallis to expand cooperation in the fintech space, according to a June 8 LinkedIn post.
“Acting Chairman of the National Bank of Georgia Natia Turnava, together with the head of the Department of Development of Financial and Supervisory Technologies Varlam Ebanoidze, held a meeting with Ripple Vice President James Wallis and EPAM Systems Vice President Alistair Brown. during their visit to Tbilisi.
The discussion focused on exploring potential areas of cooperation in the digitalization of the Georgian economy.
For context: Ripple is the technology partner of the National Bank of Georgia’s digital lari pilot project.”
The Georgian lari is the national currency of Georgia.
This is not the first meeting between Ripple and a Eurasian country. Last fall, Ripple announced a partnership with the NBG to pilot the country's new central bank digital currency (CBDC) program.
James Wallis, Ripple's vice president of central banking, said at the time:
“Georgia National Bank is taking a global lead in exploring how it can use blockchain technology to bring its economy into the digital age. Leveraging the power of the Ripple CBDC platform, this pilot will pave the way for revolutionary advances in the use of blockchain technology in the public sector.”
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