Tether, the world's largest stablecoin issuer, has announced plans to launch GELT, a stablecoin representing the Georgian lari with government support.
In a statement 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 said Georgia's digital asset framework was designed to achieve "substantive compatibility" with emerging U.S. stablecoin regulations, including the GENIUS Act. The company said the stablecoin is set to support cross-border commerce, payments, and broader access to programmable financial infrastructure throughout Georgia and the wider region.
"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.
