Tether, the world's largest stablecoin issuer, announced through its official website that it has partnered with the Georgian government to launch GELT, a stablecoin pegged to the local fiat currency, Lari (GEL). Tether explained, "This project is considered one of the initial cases of directly placing fiat currency on digital asset rails under a stablecoin-specific regulatory framework. Through GELT, Georgia's currency will enable lower transaction costs, instant settlements, programmability, and efficient value transfer. This will improve areas such as Georgia's cross-border commerce, fintech industry, digital payments, and access to programmable financial infrastructure."
