Cryptocurrency giant Tether to launch stablecoin 'GEL₮' in collaboration with the Georgian government

Tether, one of the largest cryptocurrency companies, has announced plans to launch GEL₮, a stablecoin pegged to the Georgian currency, the lari. The plan is supported by the Georgian government.

Tether and the Government of Georgia to Launch GEL₮, the Official Stablecoin of Georgia - Tether.io

Tether says it will launch 'official' stablecoin in Georgia, with government support | Reuters
https://www.reuters.com/technology/tether-georgia-government-launch-official-stablecoin-georgia-2026-05-25/

Tether also operates USDT, a stablecoin pegged to the US dollar. USDT has a market capitalization of approximately $190 billion (about 30.3 trillion yen), and its 24-hour trading volume surpasses that of major credit card companies such as Visa and Mastercard. The Georgian government decided to cooperate with Tether because of the scale of this infrastructure and its experience in operating digital fiat currency infrastructure on a global scale.

The Georgian government and the National Bank of Georgia have been working on legislation and regulations concerning digital currencies for several years, and the result is 'GEL₮,' which can be called a 'digital version of the Lari.' 'GEL₮' is not only compliant with regulations but is also being developed with global standards in mind.

The following are comments from those involved in this project. While all of them expressed their delight at the partnership between Tether and Georgia, there was no specific mention of 'GEL₮'.

Georgian Prime Minister Irakli Kobakhidze:
By partnering with visionary partners like Tether, Georgia will build a foundation for a more connected, transparent, and digitally enhanced financial world.

Tether CEO Paolo Ardoino:
Stablecoins are no longer a niche financial product; they are part of the global financial infrastructure. Georgia has been quick to establish a robust regulatory framework for digital assets and stablecoins. Such a clear framework is the foundation for true innovation to spread.

Natia Turnava, Governor of the National Bank of Georgia:
The National Bank of Georgia welcomes collaboration with global innovators like Tether as part of its broader strategy to promote a secure, modern, and internationally compliant digital financial infrastructure.

Georgian Member of Parliament Vakhtang Turnava:
By partnering with Tether, a global leader in digital asset and stablecoin innovation, Georgia has the opportunity to become a strategic bridge connecting traditional finance with the digital economy of the future.