Georgia’s central bank launches CBDC project

Central bank says private sector involvement will be “crucial”

National Bank of Georgia
Photo: NBG

The National Bank of Georgia is looking to partner with private sector firms on its new central bank digital currency project – the digital gel.

In a statement published in April, the central bank announced CBDCs had the potential to enhance Georgia’s payment system and improve financial inclusion. The project is named after the currency code for the Georgian lari, GEL.

“CBDCs may become essential for the financial ecosystem and spur private innovation and development of new financial

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