Tether Launches GELT Stablecoin Backed by Georgian Government

Tether, the world's largest stablecoin issuer, has announced plans to launch GELT, a stablecoin representing the Georgian lari with government support. In a statement released Monday, Tether said GELT is designed to serve as a "digital representation" of the Georgian Lari, enabling lower transaction costs, faster settlement, and programmable payments. Georgia's digital asset framework was designed to achieve "substantive compatibility" with emerging U.S. stablecoin regulations, including the GENIUS Act.

Georgia Prime Minister Irakli Kobakhidze said in the statement: "Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world."

GELT's Purpose and Design

Tether said the stablecoin is set to support cross-border commerce, payments, and broader access to programmable financial infrastructure throughout Georgia and the wider region.

Tether CEO Paolo Ardoino noted that stablecoins are no longer a "niche" financial instrument and are becoming part of the infrastructure layer for global finance. "Georgia has moved early to create serious regulatory architecture for digital assets and stablecoins, and that clarity creates the foundation for real innovation and adoption," Ardoino added.

Further Disclosures Planned

Tether said it will disclose further details about GELT's structure, rollout, and regulatory implementation at a later stage.

Tether's Jurisdiction-Specific Stablecoin Strategy

Tether's move in Georgia aligns with its broader push to roll out jurisdiction-specific fiat stablecoins. In May 2022, Tether introduced MXNT, pegged to the Mexican peso, which remains active today. Tether also launched EURT as a euro-pegged stablecoin years ago but later wound it down, with redemptions ceasing in November 2025 due to regulatory shifts in Europe.

Earlier this year, Tether officially launched USAT to tackle the lucrative U.S. market following Congress' passage of stablecoin legislation in the form of the GENIUS Act last summer. While USDT is primarily backed by USD-denominated reserves with a market cap of $189 billion, it is not available to U.S. clients.