Tether Teams With Georgia to Launch Lari-Backed Stablecoin
The world's largest stablecoin issuer is creating GELT, a government-backed crypto token pegged to the Georgian lari.
Tether is going sovereign. The stablecoin giant is planning to launch GELT, a new digital token pegged to the Georgian lari — and it's got the Georgian government's blessing to do it.
The partnership is unusual by any measure. Most stablecoins operate independently of national governments. GELT will carry something closer to official status, making it a rare hybrid between state-backed currency and crypto infrastructure.
Tether, already the issuer of the world's most widely used stablecoin (USDT), has been expanding aggressively beyond its dollar-pegged flagship. A government-endorsed national currency stablecoin represents a significant new frontier.
The move signals growing appetite among smaller nations to leverage existing crypto rails rather than building central bank digital currencies from scratch. Georgia gets instant access to Tether's massive global network. Tether gets legitimacy that money can't buy.