The National Bank of Georgia announced the implementation of a new regulatory model for stablecoins, presenting the initiative as the first such system in the region. This was stated by the head of the regulator, Natia Turnava, at the international Point Zero Forum 2026 in Zurich, where digital assets and the transformation of the financial sector were discussed.
According to the NBG leadership, in recent years, an updated regulatory architecture for digital financial services has been built in the country. As part of these changes, three digital banks have appeared in Georgia, and rules for virtual asset service providers (VASPs) have been established, allowing about 40 companies, including international market participants, to register.
A separate direction was the development of stablecoin regulation, approved by the National Bank in March 2026. The new model provides for strict requirements for the backing of digital tokens: issuers are obliged to maintain 100% reserves for issued stablecoins pegged to the Georgian Lari.
The NBG emphasizes that the goal of the reform is to combine the development of financial innovations with maintaining confidence in the national currency. The regulator positions the system as a tool that allows for the safe development of digital products with controlled risks to financial stability.
In parallel, specific market initiatives are being considered. International crypto company Tether has applied to launch the GELT stablecoin project, backed by the Lari and issued at the request of clients. The National Bank confirmed that it is studying the proposal, which could become the first such project in the country if approved.