Tether and Georgia Plan GELT: A Lari-Backed Stablecoin Under New Central Bank Rules

Tether and the Government of Georgia announced plans on May 25 to launch GELT, a stablecoin pegged to the Georgian lari, built around a regulatory framework released by the National Bank of Georgia in March 2026.

Stablecoin issuer Tether and the Government of Georgia announced on May 25, 2026 that they plan to launch a stablecoin called GELT, representing the Georgian lari, under Georgia's new digital asset regulatory framework. The announcement was published by Tether and reported by CoinTelegraph.

According to Tether, GELT is intended to support cross-border commerce and digital payments in Georgia. The company said the stablecoin's structure, rollout timeline, and regulatory implementation details would be disclosed at a later stage. No legal issuer, reserve custodian, or holder redemption mechanism was identified in the initial announcement.

Georgia's March 2026 Stablecoin Framework

The GELT announcement builds on regulatory groundwork laid by the National Bank of Georgia. On March 6, 2026, the central bank released a framework governing the initial offering of "stable virtual assets" in the country. The rules require:

• Prior written consent from the National Bank before any stablecoin offering
• Full reserve backing by assets meeting liquidity and credit quality requirements
• Offering documents submitted for external auditor verification
• AML compliance by all stablecoin issuers and service providers
• Registration as a virtual asset service provider (VASP) with the central bank

Georgian Prime Minister Irakli Kobakhidze stated that the Tether partnership would help build "the foundations for a more connected and transparent financial world." National Bank of Georgia President Natia Turnava said the central bank welcomed the collaboration as part of its strategy to advance digital financial infrastructure.

Tether's Expanding Non-Dollar Stablecoin Portfolio

GELT would join Tether's small roster of non-USDT stablecoin products. The company previously launched stablecoins pegged to the Mexican peso and the euro. USDT remains by far the largest stablecoin by market capitalization globally.

Government-backed or government-aligned stablecoin partnerships represent a newer strategy for Tether, which has historically operated its USDT without formal government partnership. Georgia's regulatory-first approach — establishing the framework before announcing the product — distinguishes this launch from some earlier emerging-market stablecoin efforts that proceeded without regulatory scaffolding.

What Remains Unclear

The May 25 announcement did not specify the legal entity that will issue GELT, where reserves will be held or audited, whether holders will have direct fiat redemption rights, or the launch timeline. CoinTelegraph noted that Tether acknowledged the outlet's request for comment and that the National Bank of Georgia had not responded by publication time.

Sources

• CoinTelegraph, "Tether, Georgia plan lari-backed stablecoin GELT under new rules," May 25, 2026
• National Bank of Georgia, stablecoin framework release, March 6, 2026
• Tether official announcement, May 25, 2026