The collaboration marks one of the first efforts to put a national currency, the Georgian Lari, onto digital asset rails governed by a purpose-built stablecoin regulatory framework, Tether said in its announcement Monday (May 25).

“Stablecoins are no longer a niche financial instrument. They are becoming part of the infrastructure layer for global finance,” said Paolo Ardoino, CEO of Tether. 

“Georgia has moved early to create serious regulatory architecture for digital assets and stablecoins, and that clarity creates the foundation for real innovation and adoption.”

According to Tether, the planned coin, known as GEL₮, will function as a digital representation of the Lari, and is designed to support cross-border commerce, digital payments, FinTech development and wider access to programmable financial infrastructure in Georgia and the broader region.

Tether, issuer of the largest stablecoin, adds that the announcement builds on years of work by Georgia’s government and central bank to promote digital assets and create regulations that will attract related businesses.

“Importantly, Georgia’s framework has been designed to achieve substantive compatibility with emerging U.S. stablecoin regulation, including the GENIUS Act,  positioning Georgia among the earliest countries seeking direct regulatory interoperability with the evolving U.S. digital asset framework,” the announcement added.

PYMNTS examined the changing regulatory landscape around digital assets last week, after the European Union said it was reexamining whether its Markets in Crypto-Assets Regulation (MiCA) policy framework is still “fit for purpose” two years after its passage.

“That wording matters,” PYMNTS wrote. “Regulators do not typically reopen flagship frameworks so quickly, unless they believe either that the market moved faster than expected, competitive dynamics have changed, geopolitical pressure is forcing adaptation, or some combination of the three.”

The PYMNTS Intelligence and Citi report “Chain Reaction: Regulatory Clarity as the Catalyst for Blockchain Adoption” argues that blockchain’s next leap will be guided by regulation. MiCA initially gave Europe a substantial first-mover edge over other major markets. 

“But fast forward to 2026, and the U.S. has been working to close that gap, aided by the about-face in digital asset policy driven by the current U.S. administration,” PYMNTS wrote.

Given recent crypto-related moves by the Securities and Exchange Commission (SEC), the White House’s Council of Economic Advisers, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), “it appears that, at least by any historical measure, crypto’s relationship with regulators in the U.S. has matured from adversarial to iterative,” the report added.

Major Institutional Transaction Executed

The Abu Dhabi-based global investment company, International Holding Company (IHC), has executed a $30 million (AED 110 million) transaction using a stablecoin backed by the United Arab Emirates (UAE) dirham, marking the first major institutional use of the stablecoin since receiving regulatory approval. The transaction was carried out using the DDSC stablecoin on ADI Chain, an institutional Layer-2 blockchain developed by the ADI Foundation.

Officials said the multimillion-dollar transaction demonstrates the digital currency ecosystem’s operational readiness and ability to handle institutional volumes. DDSC was created through a partnership among IHC, First Abu Dhabi Bank and Sirius International Holding, with technological support from the ADI Foundation.

The Central Bank of the UAE’s approval of the DDSC stablecoin earlier this year is part of a broader regulatory push that has already seen multiple dirham-backed tokens clear licensing hurdles. As per one report, the first AED stablecoin to secure central bank approval was the AE Coin, issued by Al Maryah Community Bank (Mbank). Additionally, Zand Bank recently obtained a license for AEDZ, distinguishing itself as the UAE’s first regulated, multi-chain AED-backed stablecoin designed to operate natively on public blockchains.

According to a media statement, the project aims to provide secure and regulated digital transactions for corporations and individuals while speeding up cross-border payments and trade settlements.

“This transaction demonstrates that the UAE’s digital infrastructure is live, resilient, and ready to support real institutional financial activity,” Syed Basar Shueb, chief executive officer of IHC, said in a statement. “Executing 110 million DDSC on ADI Chain is a clear signal that we are entering the next phase, where institutional-grade digital assets are not only viable, but operational at scale.”

Proponents of stablecoins argue they reduce the high costs, delays and complexities associated with traditional international banking systems, particularly in emerging markets.

Following the successful transaction, developers said they plan to expand institutional participation and establish new digital trade and payment corridors connecting the Middle East with global markets.

This week was a rollercoaster ride in the world of cryptocurrency and NFTs. From Michael Saylor and Kevin O’Leary sharing their insights on Bitcoin, to the surprising performance of XRP ETFs and SpaceX revealing its Bitcoin holdings ahead of its IPO. Not to forget, the popular NFT brand Pudgy Penguins is extending its partnership with Manchester City Soccer Club.

Let’s dive into the details.

Michael Saylor’s Bitcoin Perspective

Michael Saylor, CEO of MicroStrategy Inc., stated that Bitcoin would have been trading between $40,000 and $50,000 without his company’s involvement. MicroStrategy is the world’s largest corporate holder of Bitcoin, owning approximately 818,000 units. Saylor believes that even without his company, Bitcoin would have found success, but MicroStrategy’s involvement accelerated its price appreciation.

Read the full article here.

Kevin O’Leary’s Take On Bitcoin

Kevin O’Leary, the “Shark Tank” star, emphasized the need for a crypto bill to pass for Bitcoin and tokenization to move beyond the fringes for major institutional players. He believes that global compliance within the SEC through the passage of a bill will change everything. With the midterms approaching in November, O’Leary sees the present as the perfect opportunity to pass this bill.

Read the full article here.