In a significant announcement, the National Bank of Georgia (NBG) has shortlisted Ripple Labs alongside eight other firms as potential technology partners for its Central Bank Digital Currency (CBDC) pilot project titled “Digital GEL.”

Ripple Is In The Shortlist Of Nine

In an official press release dated September 28, 2023, the NBG disclosed its intent to introduce a “Limited Access Live Pilot Environment” aiming to test the technological feasibility and potential applications of a CBDC system. The bank emphasized its current “technologically agnostic” approach, suggesting an openness to a variety of technological backbones for the Digital GEL project.

The nine companies that made the cut are AUGENTIC GmbH, Bitt Inc., Broxus Holdings Ltd., Currency Network Ltd., DCM Corp Limited, …