Tether and Georgia unveil GELT stablecoin for digital Lari
6.6 Stablecoins Tether and Georgia launch GELT, a stablecoin pegged to the Lari, aiming to modernize payments, reduce costs, and boost fintech innovation under a new regulatory framework.
Tether has partnered with the Government of Georgia to launch GELT (GEL₾), a stablecoin pegged to the Georgian Lari. This marks one of the first instances where a national currency is issued directly on blockchain rails through collaboration with a private stablecoin operator under a dedicated regulatory framework. GELT aims to lower transaction costs, enable instant settlements, and introduce programmable payments. These features are expected to support more efficient value transfers, cross-border commerce, fintech development, and the digital payments infrastructure in Georgia. The project builds on years of legislative and regulatory work by the Georgian government and the National Bank of Georgia, aligning with emerging international standards, including aspects of US stablecoin regulations. Tether’s involvement brings established technology and liquidity networks, reflecting a broader trend of governments collaborating with private issuers to create regulated digital currencies. Further details about GELT’s structure and rollout will be announced later.
