Tether, Georgia Move to Bring Georgian Lari On-Chain with GEL₮ Stablecoin

Highlights:

• Tether and Georgia plan to launch GEL₮ as a digital version of the Georgian Lari.
• The stablecoin aims to make local payments, settlements, and cross-border transfers faster.
• Georgia’s new rules will guide GEL₮ through reserves, redemption rights, oversight, and compliance.

Tether and the Government of Georgia plan to launch GEL₮, a new stablecoin designed to represent the Georgian Lari on digital asset networks. Tether announced the plan on Monday, saying the project has government support and will work under Georgia’s purpose-built stablecoin regulatory framework.

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The company said GEL₮ will be one of the first joint efforts to bring a national currency directly onto digital asset rails. Tether said the project aims to enable faster, cheaper payments, near-instant settlement, programmable payments, and easier movement of value across digital financial systems. The company also said GEL₮ could help cross-border commerce, fintech development, digital payments, and wider access to digital financial infrastructure in Georgia and the broader region.

Tether and Georgia Plan to Launch Lari-Backed Stablecoin GEL₮

Tether said it plans to launch GEL₮, a stablecoin backed by the Georgian lari, with support from the Georgian government. GEL₮ is designed to lower transaction costs, enable near-instant settlement, programmable… pic.twitter.com/ypERmYdn9T

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Georgia Moves Toward Digital Finance

The launch plan comes as stablecoins continue to grow as tools for payments, settlement, remittances, and cross-border transfers. Tether said stablecoins allow money to move globally in seconds, while traditional banking systems can take longer and may involve higher costs.

Tether also referred to the size of its stablecoin enterprise. The stablecoin USD₮ is valued at nearly $190 billion and regularly surpasses the 24-hour trading volume of traditional payment systems like Visa and Mastercard.

Georgia’s cooperation with Tether follows several years of work by the government and the National Bank of Georgia to build digital asset rules. According to Tether, the country has created a framework focused on legal clarity, reserve management, redemption rights, issuer oversight, and anti-money laundering compliance.

The company said Georgia’s stablecoin framework follows global standards. It also aims to stay in line with new U.S. stablecoin rules, including the GENIUS Act.

Georgia Leaders See GEL₮ as a Step Toward Modern Finance

Georgian Prime Minister Irakli Kobakhidze said the partnership with Tether supports the country’s goal of building a more connected and digital financial system. “Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world,” Kobakhidze said.

Tether CEO Paolo Ardoino said stablecoins are moving beyond a small crypto use case and are becoming part of the global financial infrastructure. “Stablecoins are no longer a niche financial instrument. They are becoming part of the infrastructure layer for global finance,” Ardoino said. He added that Georgia’s early work on digital asset rules gives the country a stronger base for innovation and adoption.

The National Bank of Georgia also welcomed the collaboration. Natia Turnava, President of the National Bank of Georgia, said the central bank supports work with global innovators as part of its wider plan to build a secure and modern digital financial infrastructure. 

GEL₮ Stablecoin Details Remain Pending

Tether said Georgia has already become one of the more advanced markets for digital asset payments. The company noted that the country allows tax payments through the instant conversion of digital assets into local currency. But Tether hasn’t disclosed the specifics of GEL₮’s design, when it will become available or how it will be regulated. More information will be provided later, the company said.

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