Ripple Labs, a prominent crypto payments firm, has recently engaged in discussions with representatives from the National Bank of Georgia (NBG). The purpose of these meetings is to explore potential collaborations beyond their existing Digital Lari project.

Antony Welfare, a CBDC Advisor for Ripple Labs, revealed that Ripple's Vice President James Wallis and Alistair Brown from EPAM Systems have been in close communication with the NBG. The conversations centered around finding ways to support the digitization of the Georgian economy.

Ripple's partnership with the NBG began with their selection as the technological partner for the bank's Central Bank Digital Currency (CBDC) pilot project, the Digital Lari. After a rigorous selection process involving nine companies, Ripple emerged as the best fit based on their technological potential, maturity, capacity, relevant experience, and enthusiasm for the project.

The alliance between Ripple and the NBG involves the execution and delivery of the Digital Lari pilot program using Ripple's CBDC Platform. This platform will be used to assess potential use cases of the Digital Lari, evaluating its benefits for the public sector, businesses, and retail users.

Ripple's CBDC Platform has gained recognition beyond Georgia. Colombia's Central Bank, Banco de la República, collaborated with Ripple to explore blockchain technology use cases for its Digital Peso pilot. This partnership involved the Ministry of Information and Communications Technologies (MinTIC) and Peersyst Technology, a specialized blockchain firm.

Ripple's success in these partnerships has not gone unnoticed. In 2023, the company received an award from Currency Research for its role in the Advancement in Digital Currency and Best Sustainability Initiative during the Digital Currency Conference.

As the National Bank of Georgia continues its discussions with Ripple, it is evident that the two entities are exploring new avenues for collaboration. This meeting suggests that Ripple may be poised to expand its presence and offer additional use cases in the region, further solidifying its position as a leading provider of blockchain-based solutions for central banks and financial institutions worldwide.