The Government of Georgia has partnered with Tether to launch GEL?, a stablecoin pegged to the Georgian Lari.
This collaboration represents a significant step in placing a national currency directly onto digital asset infrastructure within a purpose-built stablecoin regulatory framework. The official announcement can be found here.
Although Tether’s USD? is not classified as a central bank digital currency (CBDC), it boasts a market capitalization nearing $190 billion, with trading volumes surpassing those of Visa and Mastercard.
GEL? aims to facilitate lower transaction costs, instant settlement, and programmable payments. Georgia’s regulatory framework is designed to align with the U.S. GENIUS Act, positioning the country as an early adopter of regulatory interoperability within the evolving U.S. digital asset landscape.
Paolo Ardoino, CEO of Tether, emphasized the increasing importance of stablecoins in global finance, stating, “Stablecoins are no longer a niche financial instrument but are becoming part of the infrastructure layer for global finance.”
Prime Minister Irakli Kobakhidze expressed that Georgia’s partnership with Tether is laying the groundwork for a more connected, transparent, and digitally empowered financial world. More details regarding GEL?’s structure and launch will be disclosed in the future.
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