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Ripple to Partner with Georgia's Central Bank for CBDC Pilot Program

Ripple Labs has announced a collaboration with the National Bank of Georgia (NGB) to develop the country's first central bank digital currency (CBDC) pilot programme. The NGB has chosen Ripple to support its digital Lari (GEL) pilot project, which will test the practical use cases of CBDC technology and evaluate potential benefits for the public sector, businesses and retail users. Ripple's CBDC platform, launched in May, aims to demonstrate the ability to "seamlessly mint, manage, transact and redeem CBDCs" to financial institutions and governments. The NGB selected Ripple as its single technology partner after a rigorous selection process involving nine shortlisted companies.

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