The Republic of Georgia, previously a constituent of the Soviet Union, is advancing its economic digitization by potentially cooperating with Ripple and Tether. Representatives from the National Bank of Georgia (NBG) recently conferred with Ripple's executives, James Wallis and Anthony Welfare, to explore avenues for advancing the digitization of Georgia's economy. While specific details of the discussions were not disclosed, they signify a move towards integrating sophisticated blockchain solutions within the country's financial framework. Ripple, renowned for its expertise in digital cross-border payments, is slated to act as the technology partner for NBG's upcoming digital lari pilot project set to launch in 2023. Despite the importance of the meeting, XRP, the cryptocurrency associated with Ripple, witnessed a slight market reaction, showing a meager 0.22% decline on the daily trading chart. The collaboration between Ripple and NBG showcases Georgia's inclination towards leveraging technology for financial development. Additionally, Tether, another major player in the crypto sphere, entered into a memorandum of understanding with the Georgian government a year ago, aiming to establish Georgia as a hub for peer-to-peer and blockchain technologies to drive innovation and economic progress. The partnerships with Ripple and Tether underscore Georgia's practical approach to economic growth, indicating a promising trajectory for digital innovation in the country.
Digitization of Georgia's Economy through Collaboration with Ripple and Tether

by Giorgi Kostiuk
2 years ago

Other news
Sui Network Achieves Over 780 Million in Trading Volume

Sui Network has surpassed 780 million in 24-hour trading volume, outpacing established chains such as TRX, ADA, and AVAX.

Biden Administration Targets Crypto Tax Loopholes in FY 2025 Budget

The Biden Administration proposes extending wash sale rules to cryptocurrencies in the FY 2025 budget to close tax loopholes affecting major digital assets.

Crypto Market Faces Potential Strategy Shifts Due to Proposed Regulations

The proposed extension of wash sale rules to cryptocurrencies may significantly alter market dynamics, deterring immediate buybacks similar to the effects seen in stock trading.

Tom Lee Predicts S&P 500 to Reach 7,700 by 2026

Tom Lee predicts that the S&P 500 will reach 7,700 points by 2026, driven by growth in AI and changes in Federal Reserve policies.

City Holder Offers Daily Combo and Quiz for Players

City Holder has announced a Daily Combo and Quiz event that allows players to earn up to 75 million coins.

City Holder Game Launches with Unique City Building Experience

City Holder has launched a new game that allows players to create and rule their own city in a digital universe.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter