Tether, With Support From the Georgian Government, to Launch GEL-Pegged Stablecoin

Tether, in cooperation with the Government of Georgia and the National Bank of Georgia, will launch GELT — a stablecoin pegged to the Georgian lari under a dedicated regulatory framework.

The regulatory system was designed in accordance with global standards regarding reserve management, redemption rights, issuer supervision, and compliance with anti-money laundering requirements.

According to the press release, the legislation is compatible with stablecoin regulations in the United States, including the GENIUS Act.

The framework also takes into account mechanisms used in the European Union (MiCA), the UAE (VARA), the United Kingdom, and Singapore, as well as recommendations from the World Bank and the Organization for Security and Co-operation in Europe.

A Digital Representation of the Lari

GELT is positioned as a digital representation of the Georgian lari, enabling lower transaction costs, near-instant settlements, programmable payments, and more efficient value transfers.

The initiative is expected to improve cross-border trade, the fintech industry, digital payments, and broader access to programmable financial infrastructure both within Georgia and across the wider region.

Georgian Prime Minister Irakli Kobakhidze stated that cooperation with Tether will also include investments in various sectors, including social and educational initiatives.

Earlier, the government authorized tax payments using digital assets through conversion into the local currency.

See also: "Miners’ Behavior Does Not Confirm Bitcoin Bottom Formation — CryptoQuant"

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