Georgia's central bank is exploring 'Digital Gel' CBDC
The Republic of Georgia's central bank has invited fintech firms and others to participate in the CBDC project. The National Bank of Georgia said that it is considering launching a central bank digital currency.In an announcement today, the central bank hinted at the issuance of a central bank digital currency, or CBDC, in an effort “to enhance efficiencies of the domestic payment system and financial inclusion.” The National Bank of Georgia, or NBG, said it would be inviting fintech firms and other financial institutions to participate in the project, named Digital Gel after the symbol....
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Zimbabwe’s central bank, which has expressed its opposition to cryptocurrencies in the past, announced yesterday it is presently exploring the feasibility of rolling out its own central bank digital currency (CBDC). The bank also said its regulatory sandbox continues to garner interest.
CBDC Roadmap
The Zimbabwean central bank, the Reserve Bank of Zimbabwe (RBZ), has reiterated that it prefers a central bank digital currency (CBDC) to cryptocurrencies, in its latest monetary policy statement. It adds it is now “actively exploring the feasibility of adopting a....
There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch). 105 Countries Are Exploring CBDCs The Atlantic Council’s Geoeconomic Centre has released a major update to its Central Bank Digital Currency (CBDC) Tracker. According to the tracker: 105 countries, representing over 95 percent of global GDP, are exploring a CBDC … A new high of 50 countries are in an advanced phase of exploration (development, pilot, or launch). Furthermore,....
The central bank of Georgia is advancing its digital currency project. The monetary authority is preparing to launch the CBDC as early as next year and plans to use the blockchain-based version of the national fiat, the Georgian lari, to facilitate retail sales.
Georgia to Introduce Digital Lari in 2022
The National Bank of Georgia (NBG) intends to pilot its own digital currency in a program scheduled for next year, Vice President Papuna Lezhava revealed this week. Speaking to reporters on Tuesday, the high-ranking official remarked that 85% of the world’s central banks....
In a significant announcement, the National Bank of Georgia (NBG) has shortlisted Ripple Labs alongside eight other firms as potential technology partners for its Central Bank Digital Currency (CBDC) pilot project titled “Digital GEL.” Ripple Is In The Shortlist Of Nine In an official press release dated September 28, 2023, the NBG disclosed its intent […]
The bank has been exploring the introduction of a CBDC since 2017. The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency.In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, or CBDC, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.”The central bank said it may consider issuing a CBDC if....