Georgian authorities have announced limited testing of their own digital currency. In the first stage, Ripple Labs, Augentic, Bitt, Broxus Holdings, Currency Network, DCM, eCurrency Mint, FARI Solutions and Sovereign Wallet will participate in the development of the project, but in the end only one of these companies will be chosen. as a partner.
An announcement about closed testing of the CBDC digital currency appeared on the official website of the National Bank of Georgia. Within the framework of this stage, the organizers plan to select a technological partner for the project among the companies Ripple Labs, Augentic, Bitt, Broxus Holdings, Currency Network, DCM, eCurrency Mint, FARI Solutions and Sovereign Wallet.
As ForkLog reports, Georgia plans to create a digital currency compatible with the digital euro. This is due to the country’s plans to join the European Union. Georgia’s financial regulator first announced the development of CBDC in 2021.
According to Varlam Ebanoidze, head of the financial technology department at the National Bank of Georgia, the CBDC capabilities being developed will include providing insurance to companies in the agricultural sector and automating real estate transactions.
Author:
Grigori Shcheglov
Source: RB
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