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The National Bank of Georgia (NBG) has taken a groundbreaking step into the realm of digital currency through its <a href="https://nbg.gov.ge/en/media/news/ripple-the-flagship-international-company-becomes-the-technology-partner-for-the-digital">strategic partnership with Ripple</a>, a leading blockchain and cryptocurrency solutions provider. Chosen for the Digital Lari pilot project, this collaboration aims to delve into the capabilities of Ripple’s Central Bank Digital Currency (CBDC) platform. 
<a href="https://ripple.com/ripple-press/national-bank-of-georgia-selects-ripple-as-key-partner-for-digital-lari-pilot-project/">As per the announcement</a>, the primary objective is to evaluate the platform’s potential to bring about transformative changes in the public sector, business transactions, and retail usage. Meanwhile, the NBG selected Ripple for its CBDC pilot program after a thorough election process. 
<h2 id="b-national-bank-of-georgia-set-for-cbdc-pilot-program-b">National Bank of Georgia Set for CBDC Pilot Program</h2> 
By opting for Ripple as its partner, the National Bank of Georgia signals a forward-looking approach to the evolving landscape of finance and technology. Ripple, known for its innovative solutions, offers a robust CBDC platform that has the potential to reshape traditional finance systems. 
Furthermore, the partnership’s focus extends beyond a mere exploration of technology, it encompasses a thorough examination of how digital currencies can revolutionize public services, streamline business transactions, and redefine retail interactions. Ripple’s expertise positions it as a key player in this transformative endeavor.&nbsp; 
Also, the NBG’s choice reflects a commitment to embracing cutting-edge solutions that can redefine the future of finance. Moreover, Natia Turnava, the Acting Governor of NBG, confirmed that the bank chose Ripple based on its technical excellence. 
As the Digital Lari pilot project unfolds, stakeholders will closely monitor the outcomes and insights gained from this collaboration. However, the success of this initiative could potentially influence the adoption of digital currencies on a broader scale, both within Georgia and beyond. 
<h2 id="b-ripple-makes-advancements-in-the-cbdc-space-b">Ripple Makes Advancements in the CBDC Space</h2> 
Recall that in January, Montenegro’s Prime Minister, Dr. Dritan Abazovic revealed that he had a decision with some top executives at Ripple which was centered on developing an inclusive <a href="https://thecoinrise.com/montenegro-taps-ripple-to-improve-its-payment-infrastructure/">payment infrastructure for Montenegrins by leveraging Ripple’s technology</a>. 
Interestingly, the partnership continues Ripple’s expansion in the CBDC space. Despite its legal issues, the firm has numerous partnerships with various central banks for digital currency development. Late last year, the Republic of<a href="https://thecoinrise.com/palau-to-launch-national-stablecoin-with-ripple/"> Palau announced a partnership with the blockchain payment company</a> to develop its stablecoin. 
<h2 id="b-fubon-bank-uses-ripple-to-test-real-estate-tokenization-b">Fubon Bank Uses Ripple to Test Real Estate Tokenization</h2> 
Recall that a few months ago, Fubon Bank, a Hong Kong-based lending institution <a href="https://thecoinrise.com/fubon-bank-to-use-ripple-and-test-real-estate-tokenization/">announced initiatives for exploring real estate tokenization alternatives</a> in the context of the Hong Kong Monetary Authority’s (HKMA) eHKD pilot program. As per the news, Fubon Bank will begin the pilot real estate program on Ripple’s CBDC platform in the third quarter of this year. 
The post <a href="https://thecoinrise.com/national-bank-of-georgia-to-launch-digital-lari-with-ripple/">National Bank of Georgia to Launch Digital Lari With Ripple</a> appeared first on <a href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

National Bank of Georgia to Launch Digital Lari With Ripple

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