Tether and Georgia’s government announced a partnership to launch GELT, a Georgian lari-backed stablecoin, on May 25, 2026. The move comes two months after the National Bank of Georgia released comprehensive stablecoin rules requiring full reserve backing, issuer documentation, external auditor verification, and AML compliance. GELT becomes Tether’s latest addition to a growing portfolio of non-dollar tokens that includes MXNT (Mexican peso), CNHT (offshore Chinese yuan), and a planned UAE dirham offering.
Georgia’s Digital Asset Framework Sets Stablecoin Standards
The National Bank of Georgia released its stablecoin regulatory framework on March 6, 2026, establishing baseline requirements for digital asset issuers operating in the country. The framework mandates that all registered Virtual Asset Service Providers (VASPs) maintain full reserve backing for stablecoins, submit issuer documentation, undergo external auditor verification, and comply with anti-money laundering standards. Non-registered entities must register before offering stablecoins to Georgian users. This regulatory clarity removes ambiguity that has plagued other jurisdictions and positions Georgia as a structured market for stablecoin deployment. National Bank of Georgia President Natia Turnava stated the central bank “welcomes the collaboration as part of its strategy to advance digital financial infrastructure.”
Tether Expands Currency Lineup Beyond US Dollar
GELT represents Tether’s continued diversification away from its flagship USDT (US dollar stablecoin). The company launched USAT, a US-regulated dollar stablecoin, in January 2026, while maintaining legacy tokens like CNHT, which will become non-redeemable in February 2027. Tether previously created MXNT in 2022 and announced an AED (UAE dirham) token in 2024. This multi-currency strategy positions Tether as the infrastructure layer for emerging market central banks and governments seeking to digitize domestic payment systems. By backing stablecoins with local currencies, Tether reduces cross-border friction and provides governments with a controlled onramp to blockchain technology without sacrificing monetary sovereignty.
Implementation Details Remain Unconfirmed
Tether stated that “GELT’s structure, rollout and regulatory implementation will be announced at a later stage.” The announcement does not specify the legal issuer of GELT, reserve custody location, redemption rights, or a definitive launch timeline. Prime Minister Irakli Kobakhidze said the partnership would help “lay the foundations for a more connected and transparent financial world,” signaling government backing without technical commitment. The National Bank of Georgia did not respond to requests for additional details. Market participants should monitor official channels for reserve backing details and redemption mechanics before GELT becomes available.
