Tether invests in CityPay.io to strengthen payment solutions in Eastern Europe

Tether Operations Limited, a prominent stablecoin player in the digital asset industry, announced a further investment in CityPay.io. This strategic partnership aims to accelerate cryptocurrency adoption and bring cutting-edge technology to the region.

CityPay.io, a leading payment processing company, currently operates from more than 600 locations in Georgia. Tether’s initial investment in 2023 marked a significant milestone in that it became the first stablecoin to invest in CityPay.io. Building on this success, Tether recently invested funds to further solidify the collaboration.

Tether’s collaboration with CityPay.io aims to provide customers and businesses with a seamless payment experience, allowing customers to conduct transactions using: cryptocurrency At popular establishments like Wendy’s and Radisson Hotels. CityPay.io has ambitious plans to introduce innovative e-wallet and card solutions and has an expected user base of over 400,000. The company also plans to build more than 500,000 cryptocurrency payment points across its expansion territory.

Tether’s investment will play a key 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 have growing demand for payment technologies and cryptocurrencies, making them ideal targets for Tether’s strategic investments.

Paolo Ardoino, CEO of Tether, said: “Our previous collaboration with CityPay.io has yielded exciting results in expanding convenient cryptocurrency use across Georgia. With this second investment, we are building on these results and disrupting traditional payment systems. “We are excited to partner with CityPay.io again in our joint effort to build a fairer, more connected, and more accessible global financial system.”

This latest development is consistent with Tether’s broader mission to drive cryptocurrency adoption and education in emerging markets around the world. The company continues to work to empower communities and create a more interconnected and inclusive financial environment, as evidenced by its initiatives in Georgia and Uzbekistan.

To learn more about Tether’s investment and ongoing commitment to CityPay.io, interested individuals may visit Tether.io.

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