FacebookTwitterLinkedInTelegramCopy LinkEmail

Ripple Expands Collaboration for Digitalizing Georgia’s Economy

Ripple Expands Collaboration for Digitalizing Georgia’s Economy

Ripple, a significant player in the cryptocurrency sphere, is expanding its collaboration with the Republic of Georgia, aiming to digitalize the local economy alongside the National Bank of Georgia (NBG).

This move follows a meeting between NBG officials and Ripple’s James Wallis, focusing on bolstering financial technology and digitalization efforts.

Ripple’s partnership with EPAM Systems, introduced during the meeting, signals a deeper commitment to these initiatives.

The discussions revolved around exploring avenues for digitizing the Georgian economy, leveraging Ripple’s expertise as the technological partner for NBG’s digital lari project, a CBDC pilot initiative.

READ MORE: Telegram Introduces “Telegram Stars” In-App Token for Digital Purchases

This collaboration aligns with Ripple’s broader support for global CBDC initiatives, echoing its stance outlined in a recent white paper.

However, concerns persist regarding potential drawbacks associated with CBDC implementation, such as privacy issues and government surveillance.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.