The company behind the world’s biggest stablecoin announced Monday it will work with Georgia’s government to create a digital version of that nation’s currency, marking one of the first collaborative projects between a country and cryptocurrency firm to put a national currency into digital form.
Tether revealed the new cryptocurrency will be named ‘GEL₮’.
These digital currencies are a form of cryptocurrency that maintains value by being tied to traditional government-issued money. Crypto traders primarily use them, and their popularity has grown dramatically over the past several years.
