Georgia’s central bank is taking a significant step towards the future of finance by teaming up with Ripple Labs to create the Digital Lari. This collaboration is set to bring the concept of a Central Bank Digital Currency (CBDC) to life.
Launching the Digital Lari
The National Bank of Georgia has chosen Ripple Labs to spearhead the development of the ‘Digital Lari’, which promises to revolutionize the financial landscape. This pilot project will utilize Ripple’s CBDC Platform to assess the ‘Digital Lari’s’ potential impact on the Georgian economy, including benefits for government services, corporate use, and the daily financial activities of its citizens.