Tether will launch an 'official' stablecoin in Georgia tied to local currency
Tether is set to launch a new stablecoin called GELT, which will be tied to the Georgian Lari. This initiative marks a collaboration between Tether and the Georgian government, aiming to create a digital representation of the national currency. Further details regarding the stablecoin's structure and implementation will be released in the future.
- ▪Tether's new stablecoin, GELT, will be linked to the Georgian Lari.
- ▪The launch is supported by the Georgian government and regulatory bodies.
- ▪GELT aims to provide lower transaction costs and near-instant settlement.
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| Canonical URL | https://www.engadget.com/2180540/tether-will-launch-an-official-stablecoin-in-georgia-tied-to-local-currency/ |
| Publication time | Mon, 25 May 2026 15:17:27 +0000 |
| Retrieval time | 2026-05-25T15:22:38.196Z |
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Opening excerpt (first ~120 words) tap to expand
News Tether will launch an 'official' stablecoin in Georgia tied to local currency The new cryptocurrency will be called GELT and will represent the Georgian Lari. By Jackson Chen May 25, 2026 11:17 am EST Tether Tether announced it will launch a cryptocurrency called GELT that's tied to the official currency of the country of Georgia. The company behind the USDT, a stablecoin that maintains a 1:1 value with the US dollar, said in a press release that this is one of the first joint efforts that pairs a national currency with a purpose-built stablecoin. Unlike most cryptocurrency, stablecoins are tied to a currency that's officially issued by a government. In this case, GELT will be tied to the Georgian Lari and has support from the Georgian government.
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