Tether said Monday it plans to introduce GEL₮, a stablecoin tied to the Georgian Lari, in collaboration with the Government of Georgia. The project is among the first attempts to issue a national currency directly onto blockchain-based financial rails within a purpose-built stablecoin regulatory framework.

The move comes as stablecoins gain traction for payments, settlements, remittances, and cross-border transfers. Tether’s flagship stablecoin USDT has grown to approximately $190 billion in market capitalization, with daily trading volumes frequently surpassing payment giants like Visa and Mastercard.

Tether said GEL₮ will function as a digital version of the Georgian Lari, enabling cheaper transactions, faster settlement, programmable payments, and more efficient movement of value across digital ecosystems.

The initiative is expected to support fintech innovation, regional commerce, and broader access to digital financial services.

The announcement is the culmination of years of legislative and regulatory development by the Georgian government and the National Bank of Georgia. Officials said the framework was designed to provide legal clarity for digital asset businesses and harmonize with international standards on reserve management, compliance, and issuer supervision.

Georgia is also seeking interoperability with emerging US stablecoin rules, including the GENIUS Act.

Prime Minister Irakli Kobakhidze said the partnership would help create a more transparent and digitally empowered financial future.

“Together with visionary partners like Tether, Georgia is laying the foundations for a more connected, transparent, and digitally empowered financial world,” Kobakhidze stated.

Stablecoins have increasingly become an important layer of global financial infrastructure, Tether CEO Paolo Ardoino commented on the move.

“Georgia has moved early to create serious regulatory architecture for digital assets and stablecoins, and that clarity creates the foundation for real innovation and adoption,” Ardoino said.