🎉 Georgia🇬🇪: Tether will issue GELt, a stablecoin pegged to Georgia’s national currency

🎉 Georgia🇬🇪: Tether will issue GELt, a stablecoin pegged to Georgia’s national currency

The lari will become the fifth currency — after the US dollar, euro, peso, and yuan — to be linked to a stablecoin. Regulators granted Tether authorization to issue GELt back in March.

➡️ Georgia’s national currency has historically remained relatively stable. When the National Bank of Georgia introduced the lari in 1995, the exchange rate stood at 1.3 lari per US dollar; today it is approximately 2.7 lari per dollar.

➡️ In March 2026, Georgian authorities approved a regulatory framework governing the initial issuance and circulation of stablecoins, under legislation titled “On the Initial Issuance of Stable Virtual Assets by Virtual Asset Service Providers.”

➡️ Stablecoin issuers are required to maintain a minimum regulatory capital of 500,000 lari (182,000 USD). Issuing companies must also publish the results of quarterly independent audits.

➡️ Context: Tether is one of the largest cryptocurrency companies globally and accounts for approximately 70% of the stablecoin market in terms of trading volume.

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