Hassan Maishera
TL;DR
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Tether plans to launch GELT, a Georgian lari-backed stablecoin developed with support from the Georgian government.
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The stablecoin aims to improve payments, cross-border transactions, and programmable finance while aligning with emerging U.S. stablecoin regulations such as the GENIUS Act.
GELT Aims to Modernize Payments and Cross-Border Transactions
Tether, the world’s largest stablecoin issuer, has announced plans to launch GELT, a new stablecoin pegged to the Georgian lari and backed by support from the Georgian government.
In a statement released on Monday, Tether described GELT as a digital representation of the Georgian lari designed to deliver faster settlements, lower transaction costs, and programmable payment capabilities.
The company said the stablecoin is intended to strengthen cross-border commerce, digital payments, and access to programmable financial infrastructure across Georgia and neighboring regions.
Georgia Aligns Crypto Rules With Emerging U.S. Stablecoin Standards
Tether noted that Georgia has developed a digital asset framework aimed at achieving “substantive compatibility” with emerging U.S. stablecoin regulations, including the GENIUS Act.
“GEL₮ is designed to function as a digital representation of the Georgian Lari, enabling lower transaction costs, near-instant settlement, programmable payments, and more efficient movement of value across digital financial systems. The initiative is expected to support cross-border commerce, fintech development, digital payments, and broader access to programmable financial infrastructure throughout Georgia and the wider region,” Tether added.
According to Georgian Prime Minister Irakli Kobakhidze, the partnership reflects the country’s ambitions to become a leader in digital finance innovation.
“Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world,” Kobakhidze said.
Paolo Ardoino Says Stablecoins Are Becoming Financial Infrastructure
Tether CEO Paolo Ardoino said stablecoins have evolved beyond their early niche status and are increasingly becoming part of the infrastructure powering 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,” Ardoino stated.
Tether added that additional information regarding GELT’s structure, rollout timeline, and regulatory implementation will be revealed at a later date.
The Georgia initiative is part of Tether’s broader strategy to expand its lineup of fiat-backed stablecoins tailored to specific jurisdictions.
Back in 2022, Tether launched MXNT, a stablecoin pegged to the Mexican peso, which remains operational today. The company also previously issued EURT, a euro-backed stablecoin, though it later phased out the product as regulatory changes in Europe intensified, with redemptions ending in November 2025.
Earlier this year, Tether introduced USAT as part of its push into the U.S. market following Congress’s approval of stablecoin legislation through the GENIUS Act. While Tether USD remains backed primarily by U.S. dollar-denominated reserves and carries a market capitalization of roughly $189 billion, it is not currently available to U.S. users.
