Digital GEL/LARI and Ripple | XRP

In order to promote the use of new financial technologies, improve the efficiency of the local payment system and improve financial inclusion, the National Bank of Georgia is considering issuing a Central Bank Digital Currency (CBDC).

In November 2023, it became known that the winner of NBG's "Digital Lari" pilot project was one of the world's leading technology companies - Ripple, which will create the central bank's digital currency, which NBG has been working on since 2020.

According to the decision of the National Bank of Georgia, one of the world's leading technology companies, Ripple, will implement the digital lari pilot project. According to the vice-president of the company, the first stage of the two-phase project has already started, and in a few months the pilot project will be launched, the trial period of which will last until the middle of 2025.

Source: BM.GE