Company Tether, together with the authorities of Georgia, announced the launch of the GEL₮ stablecoin pegged to the country's national currency. Georgian Prime Minister Irakli Kobakhidze personally presented this investment project in Tbilisi, calling it an important step toward economic development. Tether owns and manages assets and gold reserves worth approximately 200 billion dollars.
Regulatory Framework
The National Bank of Georgia approved the rules for issuing stablecoins by virtual asset service providers back in March 2026. Key requirements include a minimum issuer capital of 500,000 lari, mandatory regulatory approval, full reserve backing for issued tokens, and regular independent audits. The regulatory framework was developed with international standards in mind, including the US GENIUS Act and the European MiCA regulation.
Goals and Advantages of the New Token
The new GEL₮ token is designed to simplify payments and international transfers. The stablecoin will reduce transaction costs, enable near-instant settlements, introduce programmable payments, and improve the efficiency of moving funds within the digital financial infrastructure. The project is expected to help develop international trade, fintech services, and access to digital financial services in Georgia. Tether CEO Paolo Ardoino has called stablecoins part of the infrastructure layer of global finance.
Georgia’s Digitalization Context
Georgia is already considered one of the most advanced jurisdictions in digital payments. The country has implemented a system for paying taxes through instant conversion of crypto assets into national currency. According to the 2025 Chainalysis Global Crypto Adoption Index, Georgia ranks third in the world in per capita adoption of digital assets, behind only Ukraine and Moldova. The annual volume of money transfers to Georgia exceeds 2 billion dollars, and stablecoins are already actively used for faster and cheaper cross-border transfers. Parallel to the launch of GEL₮, the National Bank of Georgia continues work on the concept of a state digital lari.
Project Status
At present, the technical details of the GEL₮ project, the exact launch timeline, and the reserve structure remain unknown. Tether has stated that additional information about the stablecoin's mechanism, launch schedule, and regulatory mechanisms will be announced later. It is also not yet specified which blockchain the token will be issued on or who will serve as its legal issuer.