National Bank of Georgia to Test CBDC Next Year

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.

See also: Republic of Georgia’s Central Bank Is Researching a Digital Currency

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