Tether announced a Georgian lari-backed stablecoin project supported by the country’s authorities. The initiative is designed to connect Georgia’s financial system with the global digital asset market and provide businesses with a new tool for payments and settlements.
Tether announced the launch of GELT, a stablecoin denominated in the Georgian lari. The project is being developed in partnership with the Georgian government and is set to become one of the first initiatives globally to integrate a national currency into digital financial infrastructure under a dedicated stablecoin regulatory framework.
GELT is expected to:
- reduce the cost of money transfers;
- accelerate cross-border settlements;
- enable programmable payments;
- expand access to digital financial services;
- simplify capital flows across the region.
Georgian authorities expect the project to support the development of the country’s fintech sector, digital payments market, and cross-border commerce.
Further details regarding GELT’s structure, launch timeline, and regulatory framework will be disclosed at a later stage.
The GELT initiative follows years of legislative and regulatory work by the Georgian government and the National Bank of Georgia on digital asset oversight. Officials say the country has developed one of the region’s most advanced regulatory frameworks for the crypto industry. Particular emphasis has been placed on reserve requirements, issuer oversight, token redemption rights, and anti-money laundering compliance.
In March 2026, the National Bank of Georgia (NBG) adopted a regulatory framework governing stablecoin issuance by virtual asset service providers.
When drafting the rules, the regulator drew on provisions from the U.S. GENIUS Act, the European Union’s MiCA framework, and requirements established by Dubai’s Virtual Assets Regulatory Authority (VARA). The approach is intended to align Georgia’s model with key international standards for digital asset regulation.
Georgian Prime Minister Irakli Kobakhidze said cooperation with Tether would help the country build a more transparent digital financial system. Natia Turnava, President of the National Bank of Georgia, said the partnership is part of the country’s broader strategy to develop a modern and secure digital financial infrastructure.
Tether CEO Paolo Ardoino said stablecoins are increasingly becoming part of the global financial infrastructure, while the early adoption of clear regulations gives Georgia an advantage in developing the sector.
Earlier in 2026, Tether also announced a partnership with local payment provider CityPay. The companies said the collaboration would focus on advancing the payments industry, improving the efficiency of cryptocurrency transactions, and expanding access to digital assets in Georgia.
