Tether and the Government of Georgia plan to launch GELT, a stablecoin pegged to the Georgian lari. Announced on May 25, the initiative is positioned as one of the earlier attempts to place a national currency directly onto digital asset rails through a regulatory framework built specifically for that purpose. The two sides said details on the token’s structure and rollout will be released later.
GELT is aimed at payments and value transfer
Tether said GELT will serve as a digital representation of the lari, with intended benefits including lower transaction costs, near-instant settlement, programmable payments, and more efficient movement of value. The company expects the stablecoin to support cross-border commerce, fintech activity, and digital payments in Georgia as well as nearby markets. Georgian officials describe the partnership as part of a push to connect traditional finance with blockchain-based payment systems.
The report also points to Tether’s scale as a factor behind Georgia’s choice of partner. USDT’s market capitalization is approaching $190 billion. It also states that Tether expanded its US Treasury bill purchases in 2026 to reinforce reserves backing the token.
Rules cover reserves, redemptions, and AML
The plan builds on years of work by the Georgian government and the National Bank of Georgia to develop what the report describes as one of the region’s most comprehensive digital asset rulebooks. The framework covers reserve management, redemption rights, issuer oversight, and anti-money laundering compliance aligned with global standards. The pitch is legal clarity. That is the mechanism Georgia is using to attract digital asset businesses.
Prime Minister Irakli Kobakhidze said that, together with partners such as Tether, Georgia is laying the foundations for a more connected, transparent, and digitally enabled financial world. Natia Turnava, President of the National Bank of Georgia, said the central bank views the collaboration as part of a broader effort to advance secure, modern, and internationally aligned digital financial infrastructure.
Georgia is already described as one of the more advanced jurisdictions for digital asset payments. The report notes that tax obligations in the country can be settled by instantly converting digital assets into local currency.
Framework was built for compatibility with US proposals
Georgia designed the framework with substantive compatibility in mind for emerging US stablecoin regulation, including the GENIUS Act. That places the country among the earlier jurisdictions seeking interoperability with the developing US digital asset rule set.
Tether CEO Paolo Ardoino said stablecoins are no longer a niche financial instrument and are becoming part of the infrastructure layer of global finance. He also said Georgia moved early to create serious regulatory architecture for digital assets and stablecoins, and that regulatory clarity creates the foundation for real innovation and adoption.
The article adds that Tether earlier this year obtained a Deloitte attestation for its US-regulated USAT stablecoin as it moves to operate within that regulatory perimeter. For GELT itself, Tether and the Georgian government said more information on structure and launch plans will come at a later stage.