Georgia and Tether Launch Lari-Pegged Stablecoin GELT in Sovereign Partnership
On May 25, 2026, Tether partnered with the Georgian government and National Bank to launch GELT, a stablecoin pegged to the Georgian Lari. This is one of the first sovereign-backed stablecoin initiatives, placing a national currency onto blockchain rails. The project aims to lower transaction fees, enable near-instant settlements, and boost fintech innovation. Georgia’s regulatory framework aligns with the US GENIUS Act, positioning the country as a bridge between traditional finance and digital assets.
Cross-source coverage
Wire timeline
Georgia's Government Backs Controversial Crypto Push by Tether
Tether, the world's largest stablecoin issuer, has announced a major investment in Georgia and plans to launch GEL?, a digital token pegged one-to-one to the Georgian lari, a currency used only within the country of 3.7 million. The move signals growing crypto ambitions in the South Caucasus, but also raises concerns about transparency, as it comes with full backing from the authoritarian-leaning Georgian government. Stablecoins are designed to hold a fixed value, typically pegged to the US dollar, offering a far less volatile alternative to cryptocurrencies.
OilPrice.com Daily News UpdateNational Bank of Georgia to launch stablecoin with Tether
The National Bank of Georgia, led by Governor Natia Turnava, announced a partnership with Tether, the world's largest stablecoin issuer, to launch a lari-backed stablecoin named 'gelt'. The initiative, announced on May 25, 2026, is described as one of the first joint efforts to place a national currency directly onto digital asset rails under a purpose-built stablecoin regulatory framework. Tether noted that the launch comes as governments and central banks globally confront a structural shift in how money moves. The project represents a significant step in integrating traditional national currency with blockchain technology, with Governor Turnava welcoming the investment as part of the regulatory framework launch.
HomeNational Bank of Georgia to launch stablecoin with Tether
The National Bank of Georgia, led by Governor Natia Turnava, announced it will launch a lari stablecoin named 'gelt' in partnership with Tether, the world's largest stablecoin issuer. The announcement was made via a press release on May 25, 2026. Tether described this as one of the first joint efforts to place a national currency directly onto digital asset rails under a purpose-built stablecoin regulatory framework. The launch comes as governments and central banks globally confront a structural shift in how money moves. Governor Turnava welcomed the investment as part of the regulatory framework launch. The article was published by Central Banking on May 26, 2026.
HomeGeorgia Partners with Tether to Launch Official Lari-Pegged Stablecoin GELT
Tether announced on May 25, 2026, that it will issue a stablecoin called GELT in Georgia, with explicit support from the country's government and central bank. The stablecoin will be a digital representation of the Georgian lari, marking one of the first sovereign-backed stablecoin initiatives. Georgia's Prime Minister Irakli Kobakhidze and National Bank President Natia Turnava endorsed the project, which aims to provide near-instant settlements, lower fees, and bridge traditional banking with the digital economy. The initiative builds on Georgia's existing crypto-friendly policies, including allowing tax payments in digital assets, and aligns with US regulatory standards under the GENIUS Act. Unlike a CBDC, GELT will be issued by Tether on public networks rather than controlled by the government.
Yahoo FinanceTether Plans Georgian Lari Stablecoin in Sovereign Currency Partnership
Tether, the global leader in stablecoins, has partnered with the government of Georgia to launch GEL₮, a stablecoin pegged to the Georgian Lari. This initiative is one of the first cases of placing sovereign fiat currency onto blockchain rails. Georgia has built its new stablecoin regime to align with the US GENIUS Act, positioning itself as an early jurisdiction pursuing regulatory interoperability with Washington's digital asset rules. The GEL₮ token aims to offer lower transaction fees, near-instant settlement, programmable payments, and smoother cross-border transfers. The initiative is expected to strengthen fintech innovation, digital payment systems, and regional financial infrastructure. Vakhtang Turnava, a Member of the Parliament of Georgia, stated that the partnership gives Georgia the opportunity to become a strategic bridge between traditional finance and the digital economy. Further details on the token's structure, rollout timeline, and regulatory framework are to be disclosed later.
Yahoo FinanceTether Plans Georgian Lari Stablecoin in Sovereign Currency Partnership
Tether and the government of Georgia have announced plans to launch GEL₮, a stablecoin pegged to the Georgian Lari, marking one of the first instances of placing sovereign fiat currency onto blockchain rails. The initiative operates within Georgia's new stablecoin regulatory framework, which was designed to align with the US GENIUS Act, positioning Georgia as an early adopter of regulatory interoperability with Washington's digital asset rules. The stablecoin aims to offer lower transaction fees, near-instant settlement, and programmable payments, strengthening cross-border trade and fintech innovation. The announcement comes amid surging stablecoin adoption, with monthly onchain volume reaching $7.6 trillion in April 2026. Ripple projects $33 trillion in onchain stablecoin volume for 2026, while Chainalysis estimates adjusted transaction volume could reach $719 trillion by 2035. Georgia already permits tax payments via instant digital asset conversion. Further details on GEL₮'s structure, rollout timeline, and regulatory framework are expected later.
Yahoo Finance