Despite being in a lawsuit against the SEC for years, Ripple is still generating a buzz in the market. The venture recently entered into a partnership with the NBG (National Bank of Georgia).
That is not all, as a recent report shows 80% of Japanese banks are partnering with Ripple. Most of these financial institutions have entered into partnerships for their blockchain payment solutions.
The global expansion has set the stage for Ripple to deepen its ties with National Banks as well. Its collaboration with the National Bank of Georgia marks another milestone in Ripple’s quest to redefine worldwide financial systems.
Antony Welfare, one of the leaders at Welfare Enterprise, talked about the collaboration on X. The tweet read that Welfare is delighted to see James Wallis, Ripple’s VP, and Alistair Brown, EPAM Systems, joining hands.
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The Bank of Georgia has also informed users about an important meeting in Tbilisi via LinkedIn. Natia Turnava, NBG’s acting Governor, and Varlam Ebanoidze, the Financial and Supervisory Technology Development Head, also interacted with Ripple officials.
Ripple Vice President James Wallis was among the key figures. The discussion revolved around probable collaborative initiatives to elevate the Georgian economy’s digitalization.
The discussion marks a huge step towards the merging of digital financial technologies into Georgia’s infrastructure. Seeing Ripple involved with a National Bank and serving as its technological support system is huge.
The partnership highlights how blockchain can foster innovation and help established financial institutions. To kickstart the collaboration, Ripple will be involved in Georgia’s digital lari pilot project via CBDC.
The initiative will explore the digital lari’s apps by analyzing their roles and use cases across businesses, individual customers, and the public sector. Ripple is known for its previously established strategic partnerships that led to worldwide financial efficiency and connectivity.
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That is why its collaboration with the NBG is also expected to be a massive hit.
