GELT

Tether is launching a new stablecoin called GELT in Georgia, which is pegged to the country's local currency, the Georgian Lari. The move aims to provide a digital alternative tied to the national currency.

Georgia’s central bank has established new stablecoin regulations, including reserve backing requirements, issuer documentation, and external auditor verification. The rules are part of a collaboration with Tether to launch GELT, a stablecoin backed by Georgia’s national currency, the lari.

Tether plans to launch the GELT stablecoin with backing from the Georgian government. The stablecoin aims to facilitate cross-border commerce under a framework aligned with emerging U.S. stablecoin regulations.