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National Bank of Georgia to Test CBDC Next Year
The pilot program will initially focus on retail payments.
Updated May 11, 2023, 3:53 p.m. Published Oct 6, 2021, 10:04 p.m.
The National Bank of Georgia, which in May said it was exploring the possible development of a central bank digital currency (CBDC), plans to launch a pilot program next year.
- Initial testing will be aimed at retail use, Interfax reported, citing Papuna Lezhava, a vice governor at the central bank.
- A digital lari is not crypto currency, but is the evolution of cash, Lezhava said. It will improve the efficiency of the payments system and broaden financial inclusion.
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See also: Republic of Georgia’s Central Bank Is Researching a Digital Currency
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