Tether and the Georgian government are pushing to launch GELT, a stablecoin pegged to the Georgian lari.

On May 25 local time, blockchain outlet Cointelegraph reported that the plan is being pursued within Georgia’s recently established digital asset regulatory framework.

Tether said it expects GELT to support digital payments in Georgia and cross-border commerce. It said details of the structure, launch method and regulatory application will be disclosed later. It has not disclosed who will legally issue GELT, where reserves will be held or whether holders will be granted direct redemption rights. No specific launch timetable was presented.

The announcement comes as Georgia accelerates work to overhaul its stablecoin regime. The National Bank of Georgia in March issued stablecoin issuance rules and presented a framework that includes reserve management, redemption rights, issuer oversight and anti-money laundering compliance standards. It also required full reserve backing, preparation of issuance documents and verification by an external auditor at the initial issuance stage.

The National Bank of Georgia stipulated that written consent must be obtained before providing stablecoins. Only virtual asset service providers registered with the central bank can offer related services, and unregistered operators must complete the registration process first. It also attached a condition that stablecoins in circulation must be fully backed by reserve assets that meet liquidity and credit requirements.

The Georgian government and the central bank view the cooperation as part of expanding digital financial infrastructure. Georgian Prime Minister Irakli Kobakhidze (이라클리 코바히제) said the cooperation with Tether would help lay the foundation for a transparent financial world. Natia Turnava (나티아 투르나바), governor of the National Bank of Georgia, also said she welcomes the cooperation as part of the central bank’s strategy to advance digital financial infrastructure.

From a market perspective, GELT is an additional product in Tether’s strategy to expand non-dollar stablecoins. Tether has already introduced the Mexican peso-pegged MXNT and the offshore yuan-pegged CNHT, and has also disclosed plans for a UAE dirham-pegged stablecoin. In January 2026, it launched the dollar stablecoin USAT targeting the U.S. market.

Tether has not consistently expanded its currency-by-currency stablecoin portfolio. It halted new issuance of the euro-pegged EURT, and redemptions ended in November 2025. Redemptions of the offshore yuan CNHT are also set to become impossible from February 2027. Considering this flow, GELT goes beyond a simple new token launch and also aligns with Tether’s direction of operating stablecoins selectively within regional regulatory frameworks.

The key point to watch is the actual issuance structure and the regulatory approval method. With Georgia’s system requiring prior written approval and external verification, the core issue for GELT is how far it will disclose reserve operations, issuance documents and its redemption system. Tether also said it would announce details later, meaning follow-up notices will be needed for the business outline to take shape.

Tether and the Government of Georgia to Launch GEL₮, the Official Stablecoin of Georgiahttps://t.co/ueSLlJzot1