Tether, the foremost digital asset entity, is deepening its Eastern European presence through an investment in CityPay.io, a payment provider with over 2,000 Georgian locations. As the first stablecoin investor in CityPay.io, Tether supports its mission to enhance payment experiences through crypto acceptance at businesses like Radisson Hotels. CityPay.io aims to introduce innovative card and e-wallet solutions to its 400,000+ users and establish 500,000 crypto payment points. The expansion plan targets Eastern European markets with growing payment technology and crypto adoption, including Georgia, Kazakhstan, Armenia, Uzbekistan, and Azerbaijan.
Tether, the preeminent stablecoin issuer in the digital asset industry, has announced a strategic investment in CityPay.io, a leading payment service provider with an extensive footprint across Eastern Europe. This investment marks Tether's first foray into the region and underscores its unwavering commitment to fostering crypto adoption globally.
CityPay.io boasts a robust network of over 2,000 payment locations in Georgia, offering customers a seamless payment experience. The company has established partnerships with renowned establishments such as Radisson Hotels, enabling customers to effortlessly transact using cryptocurrencies. CityPay.io's ambitious expansion plans include the introduction of innovative card and e-wallet solutions, targeting a user base of over 400,000 individuals. The company aims to establish over 500,000 cryptocurrency payment points throughout its expansion regions.
Tether's investment is a catalyst for CityPay.io's expansion into emerging Eastern European markets such as Georgia, Kazakhstan, Armenia, Uzbekistan, and Azerbaijan. These markets exhibit a burgeoning demand for payment technologies and cryptocurrencies, presenting immense opportunities for growth. Tether's confidence in CityPay.io stems from their proven track record of success and their shared vision of driving crypto adoption.
The collaboration between Tether and CityPay.io represents a significant stride towards creating a globally connected and accessible financial ecosystem. This initiative aligns with Tether's unwavering commitment to promoting crypto education and adoption in burgeoning markets such as Uzbekistan and Georgia.
Tether's 2023 investment in CityPay.io builds upon the stablecoin giant's previous funding rounds and will serve as a springboard for the company's expansion into Eastern Europe. This investment will play a pivotal role in accelerating crypto adoption and introducing the latest fintech advancements to these emerging markets.
Through this strategic partnership, Tether and CityPay.io are poised to redefine the payment landscape. Their combined expertise and shared vision will drive the creation of an interconnected and comprehensive financial system that empowers individuals and businesses alike.
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