TBILISI, Georgia, Monday, June 17, 2024 – Financial technology firm Ripple met with representatives of the National Bank of Georgia (NBG) on June 8 to explore avenues for digitizing the country’s economy, according to a LinkedIn post from the NBG.1
The meeting involved NBG Acting Governor Natia Turnava and Varlam Ebanoidze, head of the bank’s financial and supervisory technology development department, according to the LinkedIn Post.
The post claimed they discussed potential collaborations with James Wallis, a Ripple executive.
The NBG first announced the pilot project in September 2023, inviting nine firms, including Ripple Labs, to participate. Ultimately, Ripple Labs was selected as the official technology partner for developing the digital lari, highlighting its pivotal role in this innovative endeavor.
The central bank selected Ripple as its technical partner for a pilot project exploring a central bank digital currency (CBDC) called the digital lari. The NBG announced its plans to research CBDCs in September 2023, inviting nine companies, including Ripple Labs, to participate in the digital lari project.
The discussions suggest a continued focus by the NBG on exploring blockchain technology to modernize Georgia’s financial infrastructure, analysts said.
- Georgian Economic Digitization: https://www.linkedin.com/posts/nationalbankofgeorgia_ripple-activity-7204823900516417536-I1TL/[↩]
