The National Bank of Georgia has selected Ripple Labs Inc. as its official technology partner for the development of the digital lari, the central bank's digital currency. This partnership will involve the implementation and deployment of a pilot project for the digital lari using Ripple's central bank digital currency (CBDC) platform.

The pilot initiative aims to evaluate the potential use cases and benefits of the digital lari for the state, businesses, and everyday users. The National Bank of Georgia initiated its CBDC project by selecting a technology partner from among nine companies, and Ripple Labs was chosen based on its deep understanding of the project's goals and potential applications.

This partnership underscores the ongoing global trend of central banks exploring digital currencies and the importance of innovative technology companies in developing and implementing these initiatives.

The digital lari project, which started in 2021, aligns with the broader move towards central bank digital currencies (CBDCs) worldwide. CBDCs are being explored by central banks to improve the efficiency, security, and inclusivity of their financial systems, and to address the changing landscape of digital payments. Ripple's involvement in the digital lari project reflects the company's growing role in supporting CBDC development and the broader evolution of global payment systems.