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Tether and Georgia government to launch official stablecoin of Georgia.

crypto :: 2hrs ago :: source - reuters

By Reuters

(Reuters) - Tether, the issuer of ‌the world's largest ‌stablecoin, said on Monday it ​plans to launch a stablecoin representing the Georgian Lari, with the ‌support ⁠of the government of Georgia, making ⁠it one of the first joint efforts ​to place ​a ​national currency ‌on digital asset rails.

The stablecoin will be called 'GEL₮', Tether said.

Stablecoins are a type of cryptocurrency ‌pegged to ​a fiat ​currency. ​They are mostly ‌used in crypto ​trading, ​and have surged in size in recent ​years.

(Reporting ‌by Akanksha Khushi in ​Bengaluru; Editing by ​Nivedita Bhattacharjee)


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