Georgia and Tether to Launch GEL₮, a Lari-Backed Stablecoin

• Georgia and Tether will launch GEL₮ as a lari-backed stablecoin for payments, remittances, and cross-border transfers.
• The project follows a national digital asset framework covering reserves, AML compliance, and redemption protections.
• Officials aim to align GEL₮ with emerging global stablecoin rules while expanding blockchain-based financial infrastructure.

Georgia plans to launch GEL₮, a stablecoin tied to the Georgian Lari, through a partnership with Tether and government agencies. The announcement introduced one of the first state-backed efforts to place a national currency onto blockchain payment rails under a dedicated stablecoin framework. Officials said the initiative will support faster settlements, lower transfer costs, and programmable digital payments.

According to Tether, GEL₮ will function as a digital version of the Georgian Lari across blockchain-based financial systems. The company said the stablecoin will support cross-border transfers, remittances, fintech services, and digital commerce.

The rollout follows years of regulatory work by the Government of Georgia and the National Bank of Georgia. Authorities developed a digital asset framework focused on reserve management, redemption rights, issuer oversight, and AML compliance.

Notably, officials said the framework aligns with emerging U.S. stablecoin regulation, including the GENIUS Act. Georgia also positioned the structure toward interoperability with future U.S. digital asset rules.

Prime Minister Irakli Kobakhidze said Georgia aims to support a more connected and transparent financial system through partnerships with firms like Tether.

Tether linked the launch to growing global stablecoin adoption across payments and international transfers. The company said stablecoins increasingly handle settlements that traditional banking systems process more slowly.

According to Tether, USD₮ now approaches a $190 billion market capitalization. The company also said daily trading volume regularly exceeds networks such as Visa and Mastercard.

Paolo Ardoino, CEO of Tether, said governments increasingly view stablecoins as part of global financial infrastructure. He added that Georgia created regulatory clarity designed for digital asset businesses.

Georgia already supports systems allowing digital asset conversions for tax payments into local currency. Officials said the new framework aims to expand digital financial infrastructure throughout the region.

Natia Turnava, President of the National Bank of Georgia, said the institution supports collaboration with international digital asset firms. Meanwhile, Parliament member Vakhtang Turnava said the partnership could strengthen links between traditional finance and digital markets.

Tether said additional details surrounding GEL₮’s structure, rollout timeline, and regulatory implementation will follow later.