Tether plans to launch a new stablecoin, GELT, pegged to Georgia’s national currency, the lari, in partnership with the Georgian government. The company says the token will function as a digital version of the lari, designed to cut payment costs, speed up transactions and enable programmable payments both domestically and across borders.
Regulatory framework aligned with U.S. standards
In a statement, Tether said Georgia has built its digital asset rules to align with emerging U.S. regulations, including the GENIUS Act. The framework is intended to support programmable financial tools, simplify cross-border trade and position Georgia as a regional hub for digital finance.
Prime Minister Irakli Kobakhidze said the initiative will help expand the country’s digital financial ecosystem. Tether chief executive Paolo Ardoino said the launch underscores the growing role of stablecoins as core infrastructure for global payments rather than just trading instruments.
Tether plans to provide more information on GELT’s technical design, regulatory coordination and rollout schedule in future updates.
Part of a broader multi-currency strategy
The GELT project extends Tether’s strategy of issuing stablecoins linked to multiple national currencies rather than relying solely on its dominant dollar-pegged token.
In May 2022, the company introduced MXNT, a stablecoin tied to the Mexican peso. Its euro-linked product, EURT, was later discontinued, with redemptions scheduled to end in November 2025 following tighter European regulatory requirements.
Earlier this year, Tether launched USAT, described as its first stablecoin tailored specifically for the United States after Congress passed the GENIUS Act in mid-2025.
USDT dominance remains, but access is restricted in U.S.
Tether’s flagship token, USDT, remains the largest stablecoin by market size, backed by reserves linked to U.S. dollar assets. The token’s reported market capitalization stands at about $189 billion, representing the largest share of the global stablecoin market. USDT is not available to users based in the United States.
Georgia tie-up highlights shift toward national digital currencies
The partnership between Tether and the Georgian government marks a notable step in bringing a national currency directly onto blockchain infrastructure. Rather than remaining confined to trading venues, stablecoins like GELT are being positioned as part of a country’s financial architecture.
The total value of stablecoins recently surpassed $323 billion, indicating a sizeable and established base for such tools. Analysts are likely to watch how GELT links into Georgia’s existing payment rails and whether it has any measurable effect on economic activity, with Georgia’s growth averaging 9.3% between 2021 and 2025.
The Georgian government’s decision to design rules that are compatible with the U.S. GENIUS Act points to a strategy of aligning with global digital asset standards. This model could serve as a template for other countries considering government-backed or government-supported stablecoins, potentially leading to a network of interoperable, regulated digital currencies.
Key indicators to watch
Market observers are expected to focus on several factors as GELT rolls out:
- the final form of Georgia’s digital asset regulations and how closely they track U.S. GENIUS Act standards and USAT rules
- technical details of GELT’s issuance, reserves, and programmability
- adoption in domestic payments, cross-border trade and remittances, particularly within the Caucasus and neighboring regions
- comparative performance with MXNT and other non-dollar stablecoins as a gauge of demand for local-currency digital assets, especially in emerging markets
Ardoino has framed the GELT launch as part of a longer-term shift in which stablecoins become a foundational layer for global finance and cross-border commerce. How quickly GELT gains real-world usage will offer an early test of that thesis in a smaller but fast-growing economy.
Want to understand how stablecoins fit into the bigger picture? Explore our guide on stablecoins and how they work.
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