Crypto giant Tether to launch stablecoin "GEL₮" with the Georgian government

Tether announced plans to launch GEL₮, an official stablecoin pegged to Georgia’s lari, in partnership with the Georgian government and the National Bank of Georgia.

Georgia says the initiative is part of its broader effort to build digital financial infrastructure and modernize payments.

The move stands out as a government-backed, national-currency-linked stablecoin project, highlighting closer cooperation between crypto firms and states.