The National Bank of Georgia is developing pilot projects for the digital lari, as well as exploring tokenization opportunities and the development of stablecoins. This was stated by the regulator’s President Natia Turnava at the Tbilisi Financial Summit. According to her, the country seeks to strengthen its position as a regional financial hub through modern payment solutions and international cooperation.
At the same time, a full-scale launch of the digital lari is not yet being considered. As David Utiashvili, Head of the Financial Stability Department at the NBG, explained on October 21, the pilot programs are needed to assess the potential benefits of the new currency, implementation costs, technological complexities, and associated risks. The regulator also intends to examine ways to mitigate possible threats. Central bank digital currency research and testing of such solutions have already become part of international practice.
In parallel, Georgia is modernizing its payment infrastructure, including the real-time gross settlement system (RTGS), and developing a regulatory framework for virtual assets, stablecoins, and open banking. According to Utiashvili, USDT and USDC are already used in the country, mostly pegged to foreign currencies and used for exchange operations and international transfers. A central bank digital currency could potentially complement this ecosystem, including through greater stability.