Tether will launch a stablecoin GEL based on Georgian Larry

According to official sources, Tether plans to launch the stablecoin GEL ₮ with the support of the Georgian government, as the digital representative of Georgian lari, aiming to reduce transaction costs, achieve instant settlement, and promote the development of digital finance. Georgian Prime Minister Irakli Kobakhidze stated that cooperation with Tether will lay the foundation for digital finance. Tether CEO Paolo Ardoino stated that Georgia has established a clear regulatory framework for digital assets and stablecoins.