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Tuesday, June 11, 2024
HomeCryptoRepublic of Georgia Builds Partnership with Ripple (XRP)

Republic of Georgia Builds Partnership with Ripple (XRP)

Natia Turnava, acting governor of NBG, and Varlam Ebanoidze, head of the bank’s Financial and Custody Technology Development Department, met with James Wallis, Ripple’s Vice President for Central Banking.

Discussions focused on strengthening cooperation in financial technology and exploring economic digitalization opportunities in Georgia. During the meeting, Wallis introduced Alistair Brown from EPAM Systems, a digital solutions partner, forging deeper technology and operations collaboration. He added:

“It was an honor to return to Tbilisi and introduce Alistair Brown from our partner EPAM Systems to NBG Acting Governor Natia Turnava.”

The introduction of the EPAM System highlights the essential role of integrating advanced fintech solutions to drive the digital transformation agenda.

Georgia’s Digital Lari Initiative

This recent meeting continues to build on the previous agreement from late 2023. Ripple appointed as official technology partner to develop Georgia’s central bank digital currency [CBDC], digital lari. The pilot project aims to test CBDC technology across various sectors. This includes public services, businesses as well as retail.

The pilot also acts as an important test for future blockchain solutions. This partnership with Ripple represents a strategic step towards adapting Georgia’s financial infrastructure with cutting-edge blockchain technology.

Furthermore, it should be noted that Georgia is not alone in exploring CBDC solutions with Ripple. The company has partnered with several countries for the same purpose. This includes Bhutan. Montenegro, Colombia and Palau.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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