Tether increases investments in CityPay.io: Development of crypto-payments in Eastern Europe
Date: 2024-05-10 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Tether, a leading stablecoin company, has announced additional investments in Georgian payment service CityPay.io. This step is part of the company's expansion strategy in the region.
Support for crypto payments in Georgia
CityPay.io, which provides its services in more than 600 locations throughout Georgia, is becoming a key tool for customers wishing to pay for goods and services with cryptocurrency. The partnership with Tether will allow the service to expand its activities and introduce new products over the next two years, covering not only Georgia, but also neighboring countries.
Improving financial systems
Paolo Ardoino, CEO of Tether, noted that previous cooperation with CityPay.io showed excellent results in promoting crypto payments in Georgia. New investments are designed to enhance this positive effect and promote the adoption of advanced technologies aimed at reducing the influence of traditional financial systems.
Details of the investment amount and the terms of the new agreement between Tether and CityPay.io have not been disclosed.
Educational support and expansion
In addition to investing in CityPay.io, Tether actively supports the education sector in Georgia by participating in the Academy of Digital Industries project. Besides Georgia, Tether is also expanding its presence in other countries in the region, such as Uzbekistan, by signing MoUs with local authorities.
