Tether has announced plans to issue a stablecoin in Georgia linked to the local currency lari, in cooperation with the government.
In a statement, Tether said the new token, dubbed GEL₮, is one of the first joint efforts to place “a national currency directly onto digital asset rails” under a dedicated stablecoin regulatory framework.
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Tether said the planned launch follows several years of legislative and regulatory work by the Georgian government and the National Bank of Georgia to establish a digital asset framework in the region.
Georgian Prime Minister Irakli Kobakhidze said: “Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world.”
The stablecoin issuer framed the initiative within broader changes in payments and settlement. Tether said stablecoins are “increasingly being used” for payments, settlement, remittances, and cross-border transfers.
According to the announcement, GEL₮ is designed to act as a digital representation of the Georgian lari.
Tether said the stablecoin is intended to support lower transaction costs, near-instant settlement, and programmable payments. It is also expected to enable “more efficient movement” of value across digital financial systems.
The GEL₮ initiative is also expected to support cross-border commerce, fintech activity, and digital payments in Georgia and surrounding markets, it added.
Tether CEO Paolo Ardoino said: “Stablecoins are no longer a niche financial instrument. They are becoming part of the infrastructure layer for global finance.
“Georgia has moved early to create serious regulatory architecture for digital assets and stablecoins, and that clarity creates the foundation for real innovation and adoption.”
Additional information on GEL₮, including its structure, rollout plans, and regulatory implementation, will be released later, Tether added.
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