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Tether has increased its investment in CityPay.io, enhancing the payment processor’s footprint across Eastern Europe with expansions planned for over 600 locations in Georgia. This marks a significant move by Tether to advance cryptocurrency accessibility and disrupt traditional payment methods. Paolo Ardoino, CEO of Tether, emphasized the success of their previous collaboration with CityPay.io, aiming to further leverage cutting-edge technologies for a more inclusive financial landscape.
CityPay.io, a pioneer in integrating crypto payments within traditional financial systems, currently serves 400,000 users and is the first stablecoin-backed entity to benefit from Tether’s investments. The company is set to launch over 500,000 new crypto payment points, bolstering its infrastructure to meet the growing demand for digital payment solutions.
With this strategic funding, Tether reinforces its commitment to fostering technological innovation and crypto adoption in strategic markets including Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. This move is expected to significantly impact the region’s approach to payments and financial services.
