Tether Expands Into Eastern Europe With A New Investment In CityPay.io

Key Points:

• Tether is increasing its investment in Georgia-based crypto payment provider, CityPay.io, to boost cryptocurrency adoption in Eastern Europe.
• CityPay.io, active in over 2000 locations in Georgia, plans to launch e-wallet and card solutions, targeting over 400,000 users, and setting up more than 500,000 crypto payment points.

Tether expands into Eastern Europe with new investment in Georgia’s CityPay.io. The investment will support new e-wallet and card solutions.

Stablecoin giant Tether is stepping up its commitment to cryptocurrency adoption in Eastern Europe with a further investment in Georgia-based crypto payment provider, CityPay.io.

Tether Expands Into Eastern Europe

The funding follows Tether’s original 2023 investment, marking it as the first stablecoin to invest in the Georgian payment solutions provider.

CityPay.io, currently active in over 2000 locations across Georgia, offers a seamless cryptocurrency payment experience at establishments such as Radisson Hotels.

The platform aims to launch innovative e-wallet and card solutions over the next two years, targeting a user base of over 400,000 and establishing more than 500,000 crypto payment points. The additional investment by Tether is set to significantly boost CityPay.io’s expansion into Eastern Europe.

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CityPay.io’s Expansion and Future Plans

The focus is primarily on countries like Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. These vibrant, emerging markets demonstrate a growing use of payment technologies and cryptocurrencies.

Paolo Ardoino, CEO of Tether, expressed excitement over the collaboration with CityPay.io. He emphasized that this second investment aims to build on previous results and promote the adoption of disruptive technologies in traditional payment systems.