TL;dR
- Tether announces investment in CityPay.io to promote cryptocurrency adoption in Eastern Europe.
- CityPay.io, with over 600 locations in Georgia, is key in the regional crypto payment ecosystem.
- Tether’s investment will strengthen CityPay.io’s presence, with the launch of crypto wallet and card solutions expected in the next two years. Additionally, they plan to establish over 500,000 crypto payment points in the region.
Tether, one of the most important companies in the world of digital assets, has announced a new investment in CityPay.io, a payment processing platform based in Georgia. This investment, made on May 8, 2024, aims to boost cryptocurrency adoption in Eastern Europe and countries such as Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan.
CityPay.io, which already has over 600 locations in Georgia, is a key player in the crypto payment ecosystem in its region. The platform allows users to make transactions using cryptocurrencies at a variety of establishments, from hotels to restaurants, offering a seamless and convenient payment experience.
Tether’s investment aims to further strengthen the platform’s presence in Eastern Europe and accelerate its expansion in the coming years. CityPay.io is expected to launch its own electronic wallet and card solutions in the next two years, making cryptocurrency use more accessible and convenient for users in their daily transactions.
Additionally, CityPay.io plans to establish over 500,000 crypto payment points in designated expansion regions. A much wider audience will have the opportunity to pay with cryptocurrencies at various locations, from retail stores to food and entertainment services.
Tether Explores Eastern Europe’s Potential
In Eastern Europe, more and more people are looking for alternatives to traditional payment systems. This investment will not only benefit CityPay.io by providing the necessary resources for expansion but will also drive overall crypto industry adoption in the region, offering users more options and flexibility in their financial transactions and new forms of freedom they were previously unfamiliar with.
It is also important to note that Tether is not alone in this race in Georgia. Just a year ago, the country reached an agreement to allow Binance, one of the world’s largest and most important exchanges, to operate in its territory.
Tether seeks to enhance the growing interest in the use of digital assets in the region. And thanks to CityPay.io, it has a channel with the necessary structure to promote the use and development of blockchain throughout Eastern Europe.
