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Georgia starts considering options for creating digital lari

The Georgian authorities decided to follow the example of those countries that are actively developing a national digital currency (CBDC). Recall that the Bank of France recently reported on the successful test of a token pegged to the euro. The Central Bank of Georgia said this week that it has begun considering options for creating a digital version of the lari. The regulator’s message notes that the new payment instrument will increase the availability of financial services and facilitate the sending of funds to any point in the republic. The digitalization of the economy is a global trend, and Georgia will follow this path. Electronic currency is one of the elements of an innovative economy. No timing of the launch of the token and changes in the regulatory framework has yet been announced. The National Bank of Georgia has just expressed its readiness to cooperate with fintech startups that can help in the creation of CBDC. The statement of the Central Bank also notes: CBDC will bring great benefits to innovative business, and will also contribute to the growth of the well-being of the Georgian society. Following the release of the CBDC, the efficiency of financial services will be improved and the adoption of the latest technologies for wider access to financial services will accelerate.

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