Tether and Georgia unveil government-backed GEL₮, a lari-pegged stablecoin for faster regulated domestic payments

Tether and the Government of Georgia said they will introduce GEL₮, a stablecoin pegged to the Georgian lari and backed by the Georgian government, marking one of the first government-backed local-currency stablecoins tied to national currency reserves ^{[1] [2] [3]}.

The token will be issued on Tether’s infrastructure and is intended to enable faster payments, lower costs and regulated digital value transfers within Georgia’s payments ecosystem, according to the announcement ^{[4] [3]}.

The partnership pairs Tether—issuer of the world’s largest stablecoin by market capitalization—with Georgia’s authorities to create a lari-denominated digital token designed for domestic use and regulatory oversight, with details of implementation and rollout provided by the parties in their joint announcement ^{[3] [1]}.

GEL₮ represents a collaboration between a major stablecoin issuer and a national government to digitize a local currency, with proponents highlighting potential efficiency gains and regulatory alignment as core objectives ^{[1] [4] [3]}.