Tether to launch GELT stablecoin pegged to Georgian lari

Tether, the world's largest stablecoin issuer, announced on its official website that it has partnered with the government of Georgia to launch GELT, a stablecoin pegged to the local fiat currency, the lari (GEL). The company stated that the project is one of the first to place a fiat currency directly onto digital asset rails within a dedicated regulatory framework for stablecoins. According to Tether, GELT will enable lower transaction costs, instant settlement, programmability, and more efficient value transfers for Georgia's currency. This is expected to enhance the country's cross-border commerce, fintech sector, digital payments, and access to programmable financial infrastructure.