Tether Partners With Georgia to Launch GEL₮ Stablecoin Tied to the Georgian Lari

Tether and Georgia said they are launching GEL₮, a stablecoin linked to the Georgian lari, as part of the country’s effort to build digital financial infrastructure. The announcement says GEL₮ is intended to reduce transaction costs and enable near-instant programmable payments, while supporting cross-border trade, fintech development, and digital transactions. Georgian officials, including Prime Minister Irakli Kobakhidze and National Bank of Georgia President Natia Turnava, described the initiative as part of a broader push toward a more connected and digital financial architecture. The release adds that Georgia’s central bank authorized a lari-denominated stablecoin in March and that the country has required VASPs to register and comply with AML/KYC rules since early 2023, already supports tax payments through instant crypto-to-lari conversion, and ranks third globally in the 2025 Chainanalysis Global Crypto Adoption Index on a population-adjusted basis. The statement also notes that technical details on GEL₮, including reserves, launch process, and regulation, will be disclosed later.