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 cryptocurrency adoption and introduce cutting-edge technologies to the region.
CityPay.io, a leading payment processing company, currently operates in over 600 locations in Georgia. Tether’s initial investment in 2023 marked a major milestone as it became the first stablecoin to invest in CityPay.io. Building on this success, Tether’s recent funding further strengthens their partnership.
The partnership between Tether and CityPay.io aims to provide customers and businesses with a seamless payment experience, allowing them to transact using cryptocurrencies at popular establishments such as Wendy’s and Radisson Hotels. CityPay.io has ambitious plans to introduce innovative e-wallet and card solutions, with an expected user base of more than 400,000 people. Additionally, the company plans to set up more than 500,000 crypto payment points across its 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 are showing growing demand for payment technologies and cryptocurrencies, making them ideal targets for Tether’s strategic investments.
Paolo Ardoino, CEO of Tether, expressed his excitement about the renewed partnership, saying: “Our previous partnership with CityPay.io has delivered exciting results in expanding the convenient use of cryptocurrency across Georgia. With this second investment, we aim to build on on those results and drive the adoption of advanced technologies that disrupt traditional payment systems. We are pleased to once again work with CityPay.io in our collective efforts to build a fairer, more connected and accessible global financial system.”
This latest development aligns with Tether’s broader mission to advance cryptocurrency adoption and education in emerging markets around the world. The company remains committed to strengthening communities and promoting a more interconnected and inclusive financial landscape, as evidenced by their initiatives in Georgia and Uzbekistan.
To learn more about Tether’s investment in CityPay.io and their ongoing efforts, interested individuals can visit Tether.io.
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