Cryptocurrencies

Tether Makes Strategic Investment in CityPay.io to Boost Payment Solutions in Eastern Europe

Tether Operations Limited, a key player in the digital asset industry, has disclosed an additional investment in CityPay.io. This partnership is geared towards boosting cryptocurrency adoption and introducing advanced technologies in the region.

CityPay.io, a prominent payment processing company, currently operates in over 600 locations in Georgia. Tether’s initial investment in 2023 was a significant milestone, making it the first stablecoin to invest in CityPay.io. With the recent injection of funding, Tether strengthens its collaboration with CityPay.io.

The collaboration between Tether and CityPay.io aims to offer customers and businesses a seamless payment experience, enabling them to transact using cryptocurrencies at popular venues like Wendy’s and Radisson Hotels. CityPay.io has ambitious plans to introduce innovative e-wallet and card solutions, targeting a user base of over 400,000 individuals. Additionally, the company aims to set up more than 500,000 crypto payment points in expansion regions.

Tether’s investment will support CityPay.io’s growth in Eastern Europe, focusing on countries such as Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. These emerging markets show a growing demand for payment technologies and cryptocurrencies, making them ideal for Tether’s strategic investment.

Paolo Ardoino, Tether’s CEO, expressed enthusiasm about the renewed collaboration, highlighting the goal to drive the adoption of cutting-edge technologies that disrupt traditional payment systems. This aligns with Tether’s mission of promoting cryptocurrency adoption and education in emerging markets globally.

For more information about Tether’s investment in CityPay.io and their ongoing initiatives, visit Tether.io.
Image source: Shutterstock

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