- Tether plans to launch GELT, a stablecoin tied to the Georgian lari.
- The initiative is being developed with support from the Georgian government.
- GELT aims to support payments, settlements, and cross-border commerce.
- Tether said Georgia’s framework aligns closely with emerging U.S. stablecoin regulations.
Tether Expands Into Georgian Stablecoins
Tether announced plans to launch GELT, a stablecoin representing the Georgian lari, with support from the Georgian government.
According to the company, GELT is designed to function as a digital representation of Georgia’s national currency while enabling faster settlements, lower transaction costs, and programmable payments.
The stablecoin is intended to support commerce and financial infrastructure both within Georgia and across the broader region.
Georgia Pushes Digital Asset Infrastructure
Tether said Georgia has established a regulatory framework designed to achieve “substantive compatibility” with emerging U.S. stablecoin legislation, including the GENIUS Act.
The company believes the regulatory clarity will help support cross-border commerce, digital payments, and broader adoption of programmable financial systems.
Georgian Prime Minister Irakli Kobakhidze described the partnership as part of the country’s effort to build a more connected and digitally empowered financial system.
Tether CEO Paolo Ardoino added that stablecoins are increasingly becoming part of the core infrastructure layer for global finance rather than remaining niche crypto products.
Tether Continues Regional Stablecoin Strategy
The GELT initiative follows Tether’s broader strategy of launching region-specific fiat stablecoins.
In 2022, the company launched MXNT, a stablecoin pegged to the Mexican peso that remains active today. Tether also previously operated EURT, its euro-pegged stablecoin, before winding it down following changing European regulations.
Earlier this year, Tether also launched USAT as part of its push into the U.S. market after Congress advanced stablecoin legislation through the GENIUS Act.
Stablecoin Competition Continues Heating Up
The launch reflects a growing global push toward localized stablecoin infrastructure tied to national currencies.
Governments and private firms are increasingly exploring stablecoins for payments, settlements, remittances, and programmable financial applications as regulatory frameworks become more established worldwide.
USDT remains the world’s largest stablecoin with a market capitalization of roughly $189 billion, although it is not available to U.S. customers.
