Tether plans to launch GELT, a stablecoin designed to be backed by the Georgian lari and issued under a Georgian regulatory framework. Multiple outlets report that the stablecoin is intended to support cross-border commerce and operate as an “official” token in Georgia tied to the local currency. Engadget and The Block both describe GELT as a lari-representing stablecoin linked to Georgia’s approach to stablecoin oversight. CoinTelegraph adds regulatory context, stating that Georgia’s central bank released stablecoin rules in March that cover requirements such as reserve backing, issuer documentation, and external auditor verification. The combined reporting indicates that GELT’s launch is aligned with these newly published rules, and it involves coordination with Georgian authorities and the central bank’s framework. The sources agree on the token’s name and intended linkage to the lari, while emphasizing that Georgia’s regulatory provisions govern key aspects of reserve management and compliance. No specific launch date, reserve ratios, or public deployment details are included in the provided excerpts.
Tether and Georgia plan GELT lari-backed stablecoin under new regulatory framework
Tether plans to launch GELT, a stablecoin designed to be backed by the Georgian lari and issued under a Georgian regulatory framework. Multiple outlets report that the stablecoin is intended to suppor...
- Tether plans to launch a stablecoin called GELT.
- GELT is designed to represent or be backed by the Georgian lari.
- The launch is described as being coordinated with Georgia’s stablecoin regulatory framework.
- Georgia’s central bank issues stablecoin rules in March covering reserve backing, issuer documents, and external auditor verification.
- The stablecoin is intended to support cross-border commerce under the Georgian framework.
The new cryptocurrency will be called GELT and will represent the Georgian Lari.
3 months agoGeorgia’s central bank released stablecoin rules in March covering reserve backing, issuer documents and external auditor verification.
3 months agoGELT is designed to support cross-border commerce under a Georgian framework aligned with emerging U.S. stablecoin regulations.
3 months ago
Suspected Pakistan drone spotted near LoC in Jammu and Kashmir’s Poonch
Security forces in Jammu and Kashmir’s Poonch district launch a search operation after a suspected drone is spotted near...
US Justice Department revises China hacking claims, saying agencies were targets of QTFY
US Justice Department officials revise their public claims about a reported Chinese hacking campaign, now saying several...
Céline Dion returns to Paris for a 16-show comeback after Stiff Person Syndrome diagnosis
Céline Dion arrives in Paris and makes what multiple outlets describe as her first major public appearance in about two...