Tether to Launch GELT Stablecoin with Georgia
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- Tether announced it will issue GELT, a stablecoin pegged to the Georgian lari, in partnership with the Government and National Bank of Georgia.
- Georgia has crafted a digital‑asset regulatory framework that mirrors U.S. rules under the GENIUS Act, covering reserve management, redemption rights, and issuer oversight.
- National Bank of Georgia President Natia Turnava welcomed the collaboration, saying it advances a secure, modern, and internationally aligned digital financial infrastructure.
- GELT is marketed to cut transaction fees, enable near‑instant settlements, and bridge traditional banking with Georgia’s digital economy, though it is not a central bank digital currency.
- Georgia previously piloted a digital version of its currency with Ripple’s CBDC Platform in 2023, underscoring its ongoing push into digital finance.
Why it matters: Georgian businesses and consumers gain cheaper, near‑instant payments, while the country positions itself as a regional crypto hub, attracting fintech investment and boosting trade efficiency.
