The National Bank of Georgia (NBG) has selected Ripple Labs as the official technology partner for the development of the digital lari, its central bank digital currency (CBDC) project.
Ripple Labs is a financial technology company that develops blockchain-based payment solutions. Its CBDC platform is designed to help central banks create and issue CBDCs securely and efficiently.
The digital lari is a digital currency that will be backed by the National Bank of Georgia. The digital lari is expected to be used for a variety of purposes, such as retail payments, cross-border payments, and remittances.
The NBG plans to launch a digital lari pilot in 2024. The pilot will be used to evaluate the benefits of digital lari for government, businesses and retail users.
The agreement between NBG and Ripple Labs is an important step forward in the development of digital lari. Ripple Labs has extensive experience in developing blockchain-based payment solutions. Its CBDC platform is designed to help central banks create and issue CBDCs securely and efficiently.
