Ripple Labs In Meeting With National Bank Of Georgia
The post Ripple Labs In Meeting With National Bank Of Georgia appeared on BitcoinEthereumNews.com.
Ripple Labs is having meetings with representatives of the National Bank of Georgia for a yet-to-be announced use case. The duo might be exploring expanding their relationship beyond Digital Lari project Ripple’s use cases with national banks have continued to grow. Crypto payments firm Ripple Labs Inc. and the National Bank of Georgia are likely on the path to launching a new payment solution that will merge blockchain technology and traditional finance. Ripple to Support Digitization of the Georgian Economy According to Antony Welfare, an author and the Central Bank Digital Currency (CBDC) Advisor for Ripple Labs, the company’s Vice President James Wallis and Alistair Brown from software engineering service provider EPAM Systems are in close communication with the National Bank of Georgia (NBG). Great to see James Wallis, VP @Ripple and Alistair brown from our partner @EPAMSystems engaging with the National Bank of Georgia 🇬🇪 https://t.co/iYnNZZQtEF pic.twitter.com/pzcjwhZkIf — Antony Welfare (@AntonyWelfare) June 8, 2024 The screenshot that Welfare shared in his update on X highlighted how their discussion centered around exploring potential avenues for collaboration in the digitization of the Georgian economy. Their conversations stem from the fact that Ripple is the technological partner for NBG’s pilot project on its CBDC, the Digital Lari. Markedly, the blockchain payments firm emerged the favorite after a couple of rigorous processes that involved nine companies. They were all judged based on sufficient technological potential, maturity, capacity, relevant experience, and desire to join the on-field exploration. In the end, Ripple emerged as the best partner for the Georgian Bank. Ripple’s alliance with the bank involves the execution and delivery of the Digital Lari pilot program using the Ripple CBDC Platform that came alive a while back. The novel CBDC platform will be used to assess potential use cases of the Digital Lari to…
Filed under: News - @ June 9, 2024 6:04 am