{"id":85235,"date":"2023-10-02T14:27:32","date_gmt":"2023-10-02T11:27:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85235"},"modified":"2025-09-12T22:03:48","modified_gmt":"2025-09-12T19:03:48","slug":"georgia-to-launch-a-limited-cbdc-pilot-project","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/georgia-to-launch-a-limited-cbdc-pilot-project\/","title":{"rendered":"Georgia to launch a limited CBDC pilot project"},"content":{"rendered":"<p>The National Bank of Georgia<a href=\"https:\/\/nbg.gov.ge\/en\/media\/news\/the-national-bank-of-georgia-plans-to-select-a-single-technology-partner-for-the-digital-g\"> will launch<\/a> a pilot project for the digital lari with the participation of nine companies, including Ripple Labs. One of them will have the opportunity to proceed to the next testing phase.<\/p>\n<p>The list includes Augentic, Bitt, Broxus Holdings, Currency Network, DCM, eCurrency Mint, FARI Solutions and Sovereign Wallet.<\/p>\n<p>The initiative is tied to the authorities&#8217; push to join the EU. It is envisaged that<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\"> CBDC<\/a> will achieve operational interoperability with the digital euro while preserving monetary sovereignty.<\/p>\n<p>According to the Bank of Georgia&#8217;s report, the regulator is considering a two-tier design for the new form of money, with wallets provided by a third party. It is expected to be programmable and to support asset tokenisation.<\/p>\n<p>According to Varlam Ebanoidze, head of the regulator&#8217;s fintech technology department, use cases for the digital lari<a href=\"https:\/\/www.centralbanking.com\/awards\/7958911\/cbdc-initiative-national-bank-of-georgia\"> include<\/a> insuring agricultural-sector companies and automating real estate transactions.<\/p>\n<p>In September, the National Bank of Georgia<a href=\"https:\/\/nbg.gov.ge\/en\/media\/news\/the-national-bank-of-georgia-strengthens-collaboration-with-the-bis-through-mbridge-and-au\"> became a participant<\/a> in the mBridge project \u2014 a platform for cross-border payments involving CBDCs \u2014 as an observer.<\/p>\n<p>Earlier, the central bank <a href=\"https:\/\/forklog.com\/en\/news\/georgia-to-study-the-possibility-of-issuing-a-national-digital-currency\">stated in May 2021<\/a> its plans to issue the digital lari.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Bank of Georgia will launch a pilot project for the digital lari with the participation of nine companies, including Ripple Labs. One of them will have the opportunity to proceed to the next testing phase.<\/p>\n","protected":false},"author":1,"featured_media":85236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,389,112],"class_list":["post-85235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-georgia","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85235"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85235\/revisions"}],"predecessor-version":[{"id":85237,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85235\/revisions\/85237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85236"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}