Wu said that Tether announced plans to launch a Georgian lari-pegged stablecoin GEL₮ with the support of the Georgian government, aimed at reducing transaction costs, enabling near real-time settlement, programmable payments, and digital financial value transfer. Georgia has advanced the development of a digital asset and stablecoin regulatory framework, covering reserve management, redemption rights, issuer supervision, and anti-money laundering compliance, and is seeking substantive compatibility with emerging U.S. stablecoin regulations, including the GENIUS Act.