- As per recent reports, Ripple has been planning to expand its footprint in Georgia.
- Ripple’s executives have communicated with the National Bank of Georgia (NBG).
- Previously, NBG announced Ripple as the technology partner of its CBDC project, Digital Lari.
Recent reports suggest that the blockchain firm Ripple is planning to expand its footprint in Georgia. As per a recent X post shared by Ripple’s CBDC Advisor Antony Welfare, Ripple’s Vice President James Wallis and Ripple partner EPAM Systems’ representative Alistair Brown have been in communication with the National Bank of Georgia (NBG).
Welfare shared a screenshot that highlighted the key focus of the Ripple executives’ meeting with the NBG. Reportedly, the discussion focused on “exploring potential avenues for collaboration in the digitalization of the Georgian economy.”
Notably, Ripple is the official technology partner of NBG’s Central Bank Digital Currency (CBDC) project, Digital Lari. In a press release dated November 2, 2023, Ripple asserted that NBG chose Ripple after a competitive selection process.
Reflecting on the National Bank’s statement, Ripple stated that the selection was based on Ripple’s “deep understanding of the project’s purposes and use cases, as well as a full commitment to the project’s success, sustainable business continuity, clear project development roadmap, and gradual deployment approach to use-cases.” In addition, the bank highlighted Ripple’s experience in “conducting real-life pilot project deployments, ranging from primary CBDC digital infrastructure to smart contracts and tokenization.”
Despite these developments, Ripple’s native token, XRP is moving through a bearish trail. As of press time, XRP stands at a price of $0.4941, marking a slight dip of 0.96% in one day. Over the past 7 days and 30 days, the token has experienced more notable declines of 4.65% and 5.35%, respectively. A significant decline of 66% in the 24-hour trading volume of XRP showcases the token’s lowering interest in the community.
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