Tether announced plans to launch GEL₮, a stablecoin pegged to the Georgian Lari, in partnership with the Georgian government. This represents one of the first cases of a sovereign government directly partnering with a stablecoin issuer to digitize its national currency on blockchain infrastructure. Georgia introduced a regulatory framework designed to align with emerging U.S. stablecoin rules to enable the project.
GEL₮ stablecoin launch
- ▪Tether announced plans to launch GEL₮, a stablecoin tied to Georgia's national currency
- ▪GEL₮ is pegged to the Georgian Lari
- ▪Georgia introduced a regulatory framework designed to align with emerging U.S. stablecoin rules
- ▪Tether is partnering with the Georgian government to launch GEL₮
Blockchain payment infrastructure
- ▪The GEL₮ project aims to bring faster payments to Georgia using blockchain infrastructure
Perspective of Georgian government
- ▪Georgia introduced a regulatory framework designed to align with emerging U.S. stablecoin rules
- ▪The Georgian government aims to bring faster payments, cheaper transfers, and programmable financial services to Georgia using blockchain infrastructure through GEL₮
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