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Ripple Enhances Partnership with Georgia for Digital Economy

Ripple Explores Collaboration with National Bank of Georgia for Digital Economy

Ripple, a major crypto player, is intensifying its collaboration with the Republic of Georgia, exploring possibilities for digitizing the local economy in partnership with the National Bank of Georgia (NBG).

A Key Meeting for Technological Advancement

‘It was an honor to be back in Tbilisi and introduce Alistair Brown from our partner EPAM Systems to Natia Turnava, the acting governor of NBG,’ said James Wallis, Vice President of Central Bank Engagements at Ripple.

– James Wallis, Vice President of Central Bank Engagements, Ripple

Natia Turnava, the interim governor of NBG, and Varlam Ebanoidze, responsible for technological development and financial supervision at the bank, recently met with James Wallis, Vice President of Central Bank Engagements at Ripple. The meeting, announced on LinkedIn on June 8th, took place in Tbilisi and also saw the participation of Alistair Brown, a representative from EPAM Systems, a Ripple partner.

During the meeting, discussions focused on exploring new avenues of collaboration for the digitization of the Georgian economy. Ripple, already a technological partner of NBG in the central bank digital currency (CBDC) pilot project, known as the digital lari, continues to play a key role in Georgia’s transition to a digitalized economy.

Ripple-Supported Global CBDC Initiatives

Beyond Georgia, Ripple Labs has also participated in CBDC pilot projects in several countries, including Colombia, Bhutan, Palau, and Montenegro. By the end of 2023, Ripple further strengthened its support for global CBDC development with a 23-page white paper, highlighting the crucial role of CBDCs in asset tokenization for a significant positive impact on digital economies.

Ripple and other actors continue to face criticism concerning the risks associated with CBDCs, including privacy issues and government surveillance.

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