Tether and Georgia Plan to Launch GEL₮, a Lari-Backed Stablecoin

cryptocrypto-regulationworld 4 posts · 4 accounts

Tether said it plans to launch GEL₮, a stablecoin backed by the Georgian lari, with support from the Georgian government under the country's digital-asset framework. The token is intended to cut transaction costs and enable near-instant settlement, programmable payments and digital value transfers.

Georgia's stablecoin rules cover reserve management, redemption rights, issuer oversight and AML compliance, according to details released with the plan. The country is also seeking substantive compatibility with emerging U.S. stablecoin rules, including the GENIUS Act.

From the sources (4 posts)

@tether

Tether and the Government of Georgia to Launch GEL₮, the Official Stablecoin of Georgia

@wublockchain

Tether and Georgia Plan to Launch Lari-Backed Stablecoin GEL₮ Tether said it plans to launch GEL₮, a stablecoin backed by the Georgian lari, with support from the Georgian government. GEL₮ is designed to lower transaction costs, enable nea

@cointelegraph

🇬🇪 NEW: Tether and the Georgian government plan to launch GEL₮, a Georgian Lari stablecoin under the country’s new digital asset framework.

@theblockco

Tether plans GELT stablecoin launch with support from Georgian government

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