Tether Partners with Georgian Government to Introduce Lari‑Pegged Stablecoin

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

As the world’s largest stablecoin issuer, Tether is introducing a stablecoin pegged to the Georgian lari. Notably, the announcement labeled the asset an “official stablecoin,” underscoring its partnership with the Georgian government.

Key Attributes of Tether’s Lari‑Pegged Stablecoin

Tether has named the stablecoin GEL₮, which will be the company’s inaugural digital asset designed to maintain a 1:1 peg to the Georgian lari.

This initiative represents the first collaboration between a stablecoin issuer and a sovereign authority, combining a purpose‑designed stablecoin with a national currency. It builds upon the Georgian government and the National Bank of Georgia’s legislative and regulatory work to create the most advanced digital‑asset framework in the region.

Tether noted that the introduction of GEL₮ coincides with a worldwide shift in monetary transactions, as governments and central banks adapt to the rising use of stablecoins for payments, settlements, remittances, and cross‑border transfers, thanks to their near‑instant settlement and low cost.

“Georgia has acted swiftly to build a robust regulatory framework for digital assets and stablecoins, providing the clarity necessary for genuine innovation and adoption,” remarked Paolo Ardoino, Chief Executive Officer of Tether.

“In partnership with forward‑thinking collaborators such as Tether, Georgia is establishing the groundwork for a more interconnected, transparent, and digitally empowered financial ecosystem,” stated Irakli Kobakhidze, Prime Minister of Georgia.

While the descriptions of GEL₮ evoke the characteristics of a central bank digital currency, Tether has not explicitly labeled it as such in its announcement.

Tether’s Metrics and Scope

GEL₮ will be added to Tether’s expanding suite of stablecoins, a portfolio that RWA.xyz estimates to exceed $181.73 billion in total value. USD₮ remains the issuer’s largest token, with a market capitalization of roughly $178.95 billion.

Tether currently issues USD₮ on ten different blockchains. Ethereum accounts for the largest portion, representing $88.63 billion, while TRON follows with $87.58 billion. Additionally, a U.S.-regulated version called Tether America USD (USA₮) holds a market capitalization of nearly $160 million.

Beyond these, USD₮ is also deployed on Solana (SOL), BNB Chain (BNB), Arbitrum (ARB), Base (BASE), Polygon (POL), Aptos (APT), Avalanche (AVAX) C‑Chain, and the XRP Ledger (XRP).

Tether also issues Tether Gold (XAU₮), the second‑largest commodity‑backed token, with each unit representing ownership of one troy ounce of a London Bullion Market Association (LBMA) Good Delivery bar.

It is noteworthy that Tether previously issued euro‑pegged EUR₮ and yuan‑pegged CNH₮, both of which were discontinued due to regulatory challenges and limited demand. The platform also supports a gold‑backed synthetic stablecoin, Alloy USDT (aUSD₮), and a Mexican Peso Tether (MXN₮); however, these assets have remained niche offerings with minimal market capitalization and cash flow.

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