Georgia's central bank taps Ripple for digital currency pilot project

Quick Take

  • Georgia’s central bank has partnered with Ripple for a CBDC pilot.
  • The pilot will explore practical use cases of the currency for various sectors.

The central bank of Georgia has partnered with blockchain payments firm Ripple on the country's central bank digital currency (CBDC) pilot project.

The pilot program from National Bank of Georgia (NBG) will experiment with Ripple's CBDC Platform to assess the practical use cases of a "digital lari" CBDC for public sector, businesses, and retail users in the country. The project is currently in its initial stage, with NBG soon planning to test Ripple’s CBDC platform in a live environment, according to a statement.

NBG said it has selected Ripple as its key CBDC partner because the company "has a deep understanding of the project's purposes and use cases, as well as a full commitment to the project's success."

Additionally, NBG highlighted Ripple’s "experience in conducting real-life pilot project deployments, ranging from primary CBDC digital infrastructure to smart contracts and tokenization."


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"By harnessing the power of the Ripple CBDC Platform, this pilot will pave the way for transformative advancements in the utilization of blockchain technology within the public sector,” Ripple VP of Central Bank Engagements James Wallis stated.

Friday’s partnership announcement adds to the CBDC programs Ripple is already engaged in, including five other pilot programs with central banks in Bhutan, Palau, Montenegro, Colombia, and Hong Kong.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Brian McGleenon is a UK-based markets reporter for The Block. He has worked as a financial journalist and producer for multiple news outlets over the years, such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard, and The Daily Express. Brian is also a screenwriter and producer with one feature film produced and one in development with Northern Ireland Screen. Apart from web3 and cryptocurrency developments, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity research. Get in touch via email [email protected].


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