Tether Invests in CityPay.io to Enhance Payment Solutions in Eastern Europe

Tether
Operations
Limited,
the
prominent
stablecoin
player
in
the
digital
asset
industry,
has
announced
an
additional
investment
in
CityPay.io.
This
strategic
partnership
aims
to
accelerate
the
adoption
of
cryptocurrency
and
introduce
cutting-edge
technologies
in
the
region.

CityPay.io,
a
leading
payment
processing
company,
currently
operates
across
more
than
600
locations
in
Georgia.
Tether’s
initial
investment
in
2023
marked
a
significant
milestone
as
it
became
the
first
stablecoin
to
invest
in
CityPay.io.
Building
on
this
success,
Tether’s
recent
injection
of
funding
further
solidifies
their
collaboration.

The
collaboration
between
Tether
and
CityPay.io
aims
to
provide
customers
and
businesses
with
a
seamless
payment
experience,
allowing
them
to
conduct
transactions
using





cryptocurrencies
at
popular
establishments
like
Wendy’s
and
Radisson
Hotels.
CityPay.io
has
ambitious
plans
to
introduce
innovative
e-wallet
and
card
solutions,
with
a
projected
user
base
exceeding
400,000
individuals.
Additionally,
the
company
intends
to
establish
over
500,000
crypto
payment
points
across
the
expansion
regions.

Tether’s
investment
will
play
a
crucial
role
in
supporting
CityPay.io’s
growth
in
Eastern
Europe,
with
a
particular
focus
on
countries
such
as
Georgia,
Armenia,
Azerbaijan,
Kazakhstan,
and
Uzbekistan.
These
emerging
markets
exhibit
a
growing
demand
for
payment
technologies
and
cryptocurrencies,
making
them
ideal
targets
for
Tether’s
strategic
investment.

Paolo
Ardoino,
the
CEO
of
Tether,
expressed
his
excitement
about
the
renewed
collaboration,
stating, “Our
previous
collaboration
with
CityPay.io
yielded
exciting
results
in
expanding
convenient
cryptocurrency
use
across
Georgia.
With
this
second
investment,
we
aim
to
build
on
those
results
and
drive
the
adoption
of
cutting-edge
technologies
that
disrupt
traditional
payment
systems.
We
are
thrilled
to
collaborate
with
CityPay.io
again
in
our
joint
efforts
to
build
a
fairer,
more
connected,
and
accessible
global
financial
system.”

This
latest
development
aligns
with
Tether’s
broader
mission
of
promoting
cryptocurrency
adoption
and
education
in
emerging
markets
worldwide.
The
company
remains
committed
to
empowering
communities
and
fostering
a
more
interconnected
and
inclusive
financial
landscape,
as
demonstrated
by
their
initiatives
in
Georgia
and
Uzbekistan.

To
learn
more
about
Tether’s
investment
in
CityPay.io
and
their
ongoing
endeavors,
interested
individuals
can
visit
Tether.io.

Image
source:
Shutterstock

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