Tether · Crypto Briefing
Georgian government taps Tether to launch national currency stablecoin GEL₮
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The deal makes Georgia one of the first countries to put its national currency on blockchain rails through a collaboration with a private stablecoin operator.
Key facts
- Tether said Monday it plans to introduce GEL₮, a stablecoin tied to the Georgian Lari, in collaboration with the Government of Georgia
- Stablecoins have increasingly become an important layer of global financial infrastructure, Tether CEO Paolo Ardoino commented on the move
- Georgia is also seeking interoperability with emerging US stablecoin rules, including the GENIUS Act
- The announcement is the culmination of years of legislative and regulatory development by the Georgian government and the National Bank of Georgia
Summary
Tether said Monday it plans to introduce GEL₮, a stablecoin tied to the Georgian Lari, in collaboration with the Government of Georgia. The move comes as stablecoins gain traction for payments, settlements, remittances, and cross-border transfers. Tether said GEL₮ will function as a digital version of the Georgian Lari, enabling cheaper transactions, faster settlement, programmable payments, and more efficient movement of value across digital ecosystems. The initiative is expected to support fintech innovation, regional commerce, and broader access to digital financial services.