Tether will launch an 'official' stablecoin in Georgia tied to local currency
Tether is launching a new stablecoin named GELT, which will be pegged to the Georgian Lari. This initiative, developed in collaboration with the Georgian government and its regulatory bodies, aims to provide a digital representation of the national currency. The stablecoin is intended to facilitate lower transaction costs, enable near-instant settlement, and support programmable payments within Georgia. AI
IMPACT Facilitates digital transactions and programmable payments within Georgia, potentially increasing adoption of blockchain technology for financial services.