Tether's Georgia Gambit: Stablecoins Meet State Sponsorship Tether's announcement that it will launch an official stablecoin in Georgia, tied to the local currency, has raised concerns among those who track the rapidly evolving landscape of digital currencies.
Dubbed GELT, this new cryptocurrency promises lower transaction costs, near instant settlement, and programmable payments – benefits that have become synonymous with stablecoins.
The Georgian government is backing GELT, which will be tied to the official currency of the country.