Tether announced Monday a partnership with the Government of Georgia to launch GEL₮, a stablecoin pegged to the Georgian Lari. The initiative is one of the first to issue a national currency directly on a blockchain under a dedicated regulatory framework.
Stablecoins are gaining traction for payments, remittances, and cross-border transfers. Tether’s USDT has reached roughly $190 billion in market cap, with daily trading volumes often surpassing Visa and Mastercard.
GEL₮ will function as a digital version of the Lari, enabling cheaper and faster transactions, programmable payments, and seamless value transfer across digital ecosystems. The project aims to support fintech innovation and broader access to digital financial services.
The announcement follows years of legislative work by the Georgian government and the National Bank of Georgia. The framework provides legal clarity for digital assets, aligning with international standards on reserve management and compliance. Georgia is also seeking interoperability with emerging U.S. stablecoin rules, including the GENIUS Act.
Prime Minister Irakli Kobakhidze stated the partnership will create a more transparent and digitally empowered financial future. Tether CEO Paolo Ardoino praised Georgia’s early regulatory architecture as a foundation for real innovation and adoption.