National Bank of Georgia to Test CBDC Next Year

The pilot program will initially focus on retail payments.

Oct 6, 2021 at 3:43 p.m. UTC
Updated Oct 6, 2021 at 10:04 p.m. UTC

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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Sheldon Reback is a CoinDesk news editor based in London.