The National Bank of Georgia announces that it has selected nine companies to serve as technology partners for the pilot phase of its central bank digital currency, dubbed Digital GEL.
The project will include a Limited Access Live Pilot Environment to test the technology capabilities and other potential application areas via use cases.
The participating companies include San Francisco-based crypto payment giant Ripple, digital asset management system Bitt, blockchain platform Broxus, and several fintech firms.
In January, the bank said it would publish a document detailing the concept of a national digital currency in the coming months.
Georgia had been working on its “digital lari” pilot version which was initially expected in 2022 but the NBG postponed the trials for this year