Tether Operations Limited (the prominent stablecoin in the digital assets industry) has announced an addition investment in CityPay.io. This strategic partnership is designed to increase the adoption of cryptocurrency in the region and introduce cutting edge technologies.
CityPay.io is a leading company in payment processing and operates at more than 600 locations across Georgia. Tether's first investment in CityPay.io in 2023 was a milestone, as it was the first stablecoin that invested in CityPay.io. Tether's latest funding injection further cements their collaboration.
Tether's collaboration with CityPay.io aims at providing customers and businesses a seamless experience in payment, allowing them the ability to use cryptocurrencies to make payments at establishments such as Wendy's or Radisson Hotels. CityPay.io is introducing innovative eWallet and Card solutions with a projected base of over 400,000 users. The company also plans to set up over 500,000 crypto-payment points in the regions of expansion.
Tether's strategic investment will be crucial in supporting CityPay.io in Eastern Europe. This includes countries like Georgia, Armenia Azerbaijan Kazakhstan and Uzbekistan. Tether's investment is a strategic move to target these emerging markets, which have a high demand for payment technology and cryptocurrency.
Paolo Ardoino expressed his excitement over the renewed collaboration. He stated, "Our prior collaboration with CityPay.io produced exciting results by expanding the convenient cryptocurrency use in Georgia. We want to continue building on the results of our previous investment and encourage the adoption cutting-edge technology that disrupts traditional payment systems. We are delighted to work with CityPay.io in our efforts to create a more accessible, connected and fair global financial system. "
Tether's mission is to promote cryptocurrency adoption and education across emerging markets. This latest development fits in with that mission. As demonstrated by its initiatives in Georgia, and Uzbekistan, the company is committed to empowering local communities and creating a more inclusive and interconnected financial landscape.
Interested individuals can learn more about Tether’s investment in CityPay.io, and their ongoing efforts by visiting Tether.io.
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