The National Bank of Georgia (NBG) is strengthening its cooperation with Ripple Labs. They discussed opportunities to collaborate on projects to digitize the country’s economy, implement blockchain, and further develop the digital lari (CBDC).

Ripple to Help Digitize Georgia’s Economy

The National Bank of Georgia (NBG) announced a new joint initiative in cooperation with Ripple Labs. Representatives from the bank and the company will explore opportunities to digitize the Georgian economy.

Natia Turnava, First Vice-Governor and Acting Governor of the NBG, and Varlam Ebanoidze, Head of the Financial and Supervisory Technology Development Department, discussed several issues related to the development of financial technologies in the country with James Wallis, VP of Central Bank Engagements at Ripple. Alistair Brown, Vice President and Global Head of Open Banking & Payments at EPAM, Ripple’s partner in the development of software for digital platforms and products, also attended the discussion. 

Ripple’s cooperation with the National Bank of Georgia builds on a previous partnership in which the company acted as the official technology partner of the digital GEL pilot project. Georgia is not the only country where Ripple is involved in CBDC development projects. The company is also working on pilot projects in Bhutan, Palau, Montenegro, and a number of other jurisdictions.

Author: Ana Bustos García
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