Tether · US Congress · The Block
Tether, the world's largest stablecoin issuer, has announced plans to launch GELT
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Released Monday, Tether said GELT is designed to serve as a "digital representation" of the Georgian Lari, enabling lower transaction costs, faster settlement, and programmable payments.
Key facts
- In May 2022, Tether introduced MXNT, pegged to the Mexican peso, which remains active today
- Released Monday, Tether said GELT is designed to serve as a "digital representation" of the Georgian Lari, enabling lower transaction costs, faster settlement, and programmable payments
- Tether CEO Paolo Ardoino noted that stablecoins are no longer a "niche" financial instrument and are becoming part of the infrastructure layer for global finance
- Tether, the world's largest stablecoin issuer, has announced plans to launch GELT, a stablecoin representing the Georgian lari with government support
Summary
Tether, the world's largest stablecoin issuer, has announced plans to launch GELT, a stablecoin representing the Georgian lari with government support. Tether said Georgia's digital asset framework was designed to achieve "substantive compatibility" with emerging U.S. stablecoin regulations, including the GENIUS Act. "Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world," Georgia Prime Minister Irakli Kobakhidze said in the statement. Tether CEO Paolo Ardoino noted that stablecoins are no longer a "niche" financial instrument and are becoming part of the infrastructure layer for global finance.