GEL₮ in Georgia: What Is Confirmed and What Businesses Should Verify

On May 25, 2026, Tether announced plans to launch GEL₮, a stablecoin representing the Georgian lari, with support from the Government of Georgia.

The announcement is relevant to Georgia's digital-asset market, but businesses should distinguish Tether's product announcement from the legal requirements that apply before a stable virtual asset is offered under Georgia's NBG framework.

What Tether announced

Tether described GEL₮ as a digital representation of the Georgian lari intended to support uses such as payments, settlement, remittances, and cross-border commerce.

Tether's announcement used the phrase "official stablecoin of Georgia." Reuters reported at the time that the nature of the government partnership had not been detailed and that the announcement did not establish whether the proposed token was a central-bank digital currency.

The legally safer distinction is straightforward: a private issuer's description of a product as "official" should not by itself be treated as proof that the token is Georgian legal tender, a CBDC, or a liability of the National Bank of Georgia.

The regulatory framework changed after the announcement

When GEL₮ was announced, NBG Order No. 52/04 had already created a stablecoin initial-offering framework.

That framework was amended on September 9, 2026 by Order No. 214/04, effective September 10. Any current assessment of a proposed GEL-pegged stablecoin therefore needs to use the amended rule, not only the March version that existed at the time of Tether's announcement.

Among other things, the current framework requires:

• an issuer making the offering to be registered as an NBG VASP;
• at least 100% reserve backing of nominal value;
• reserve assets denominated in the currency to which the stable virtual asset is pegged, subject to the rule's detailed requirements and NBG-approved alternatives;
• segregation of reserve assets from the issuer's own assets;
• minimum supervisory capital of 500,000 GEL, with an additional reserve-linked capital formula once reserves reach the specified threshold;
• advance public redemption terms;
• nominal-value redemption generally within three business days, with the rule allowing up to five business days where one client's aggregate request exceeds 300,000 GEL or equivalent; and
• an offering document agreed with the NBG under the applicable process.

What a business should verify before relying on GEL₮

Do not treat the May announcement alone as evidence that a token is ready for production use.

Before accepting, integrating, custodying, or building material exposure to a GEL-pegged stablecoin, verify the current evidence for at least:

• the legal entity acting as issuer;
• the issuer's NBG VASP registration;
• the NBG process and status for the stablecoin offering;
• the current offering document and user terms;
• reserve composition and custody arrangements;
• redemption terms and fees;
• applicable blockchain and technical architecture;
• AML/CFT and sanctions controls; and
• audit and reporting disclosures required by the current framework.

These are verifiable compliance questions. They are more useful than relying on marketing labels.

Does "government support" make GEL₮ state money?

Not by itself.

Tether's May announcement stated that the project had Government of Georgia support. That is different from saying that the token is issued by the Georgian state or the NBG, is legal tender, or is a CBDC.

A business should base any such conclusion on the applicable Georgian legal instrument and current issuer/NBG documentation.

What changed in our earlier analysis

The May version of this article described the March stablecoin rule and listed unanswered implementation questions. Since then, the NBG amended the rule in September.

For that reason, the relevant due-diligence question is no longer merely whether a proposed GEL₮ structure fits the original March framework. It is whether the actual issuer and offering satisfy the current consolidated NBG regime at the time the product is offered or used.

For an issuer-status or compliance review, contact TK Counsel.