Tether To Launch Stablecoin Based On Georgian Lari

• The Georgian government and central bank have partnered with Tether to launch a lari stablecoin called GEL₮.

Tether, the world’s largest stablecoin issuer, is launching a stablecoin pegged to the Georgian lari. What’s interesting with its announcement is that it referred to the asset as “official stablecoin,” indicating a partnership with the government of Georgia.

Key Features of Tether’s Georgian Lari-Based Stablecoin

Tether calls the new stablecoin GEL₮. Upon rollout, it will be the crypto-native institution’s first crypto asset pegged 1:1 to the lari.

Additionally, the company stated that it’s the first joint effort with a government, pairing a purpose-built stablecoin with a national currency. It builds on the Georgian government’s and the National Bank of Georgia’s legislative and regulatory efforts to “establish the most advanced, comprehensive digital asset framework in the region.”

The stablecoin giant highlighted that GEL₮’s launch comes as governments and central banks globally are confronting a structural shift in how money moves. It emphasized that people and institutions are increasingly using stablecoins for payments, settlements, remittances, and cross-border transfers due to their near-instant finality and cost-efficiency.

“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,” said Paolo Ardoino, CEO of Tether.

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

Tether’s and the Georgian government’s descriptions give the asset a central bank digital currency (CBDC) vibe. However, the company hadn’t explicitly mentioned such a fact in its press release.

Tether by the Numbers

GEL₮ will join Tether’s growing stablecoin portfolio, which RWA.xyz valued at over $181.73 billion. USD₮ has the highest market cap among its tokens, accounting for approximately $178.95 billion.

The company currently issues the USD₮ across 10 blockchains. Ethereum (ETH) accounts for the largest share at $88.63 billion. Meanwhile, TRON (TRX) is the second-largest network for the stablecoin, holding $87.58 billion in total assets. A US-regulated counterpart to the token, Tether America USD (USA₮), has a market cap of nearly $160 million.

Other chains hosting USD₮ include Solana (SOL), BNB Chain (BNB), Arbitrum (ARB), Base (BASE), Polygon (POL), Aptos (APT), Avalanche (AVAX) C-Chain, and XRP Ledger (XRP).

Tether also hosts the second-largest commodity token, Tether Gold (XAU₮). Each unit of the asset represents ownership of one troy ounce of London Bullion Market Association (LBMA) Good Delivery bars.

It’s worth noting that Tether was the issuer of the now-defunct euro-pegged EUR₮ and yuan-pegged CNH₮, before abandoning them due to regulatory issues and low demand. It also hosts the non-algorithmic, gold-backed synthetic stablecoin Alloy USDT (aUSD₮) and Mexican Peso Tether (MXN₮), which were merely relegated to a niche market due to their very low market cap and cash flows.

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