Tether will collaborate with the Georgian government to launch the official stablecoin GEL₮

Tether announced that it will collaborate with the government of Georgia to launch the official stablecoin GEL₮, which is pegged to the Georgian Lari and will be issued under a specially designed regulatory framework for stablecoins.

GEL₮ is intended to serve as a digital representation of the Georgian Lari, aimed at reducing transaction costs, achieving near real-time settlement, supporting programmable payments, and enhancing the efficiency of fund circulation in cross-border transfers and the digital financial system. Tether stated that the project is expected to support cross-border trade, fintech development, and digital payments.