Ripple joined the development of the digital Lari.
Ripple joined the development of the digital Lari.

The National Bank of Georgia has chosen blockchain platform Ripple Labs Inc. as the official technological partner for the development of the digital Lari.

Ripple will collaborate with the bank to launch a pilot project of the digital Lari using the Ripple CBDC platform. The partnership aims to assess the capabilities of the new digital currency and its benefits for the country's economy, the commercial sector, and citizens.

Last month, the regulator expressed its ambition to develop the Central Bank Digital Currency (CBDC) project, starting with the launch of a pilot version with limited access. In the search for a technological ally, the National Bank considered proposals from nine candidates, including Augentic GmbH, Bitt Inc., Broxus Holdings Ltd., Currency Network Ltd., DCM Corp Limited, and others.

The choice in favor of Ripple Labs was made by the selection committee after a thorough review of all proposals, thanks to their understanding of the project's tasks and the possibilities for its application.

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