2024

Bitcoin

Tether Operations Limited, a major player in the digital asset industry, has <a href="https://tether.io/news/tether-boosts-payment-solutions-in-eastern-europe-with-additional-investment-in-citypay-io/" target="_blank" rel="noreferrer noopener">revealed</a> plans to further expand its presence in Eastern Europe through an additional investment in CityPay.io.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Tether Boosts Payment Solutions in Eastern Europe with Additional Investment in <a href="https://t.co/14g9wt7PCC" target="_blank">https://t.co/14g9wt7PCC</a> ( <a href="https://twitter.com/citypayio?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@citypayio</a> )<a href="https://t.co/WSL1GVRhzz" target="_blank">https://t.co/WSL1GVRhzz</a>— Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1788178202365407356?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 8, 2024</a>
 </blockquote> 
 </div>
</figure> 
Leading payment processor CityPay.io operates in more than 600 sites around Georgia. The fundraising round comes after Tether invested in CityPay.io in 2023, making history as the first stablecoin to do so in the Georgia-based supplier of payment solutions. 
Paolo Ardoino, CEO of Tether, <a href="https://twitter.com/paoloardoino/status/1788184785807921376?t=0LiQ29WPm0zjLnkOxb3isA&amp;s=19" target="_blank" rel="noreferrer noopener">posted</a> on X, saying that this strategic move, emphasizes the growing importance of Bitcoin and Tether (USDt) as the financial backbone in many developing countries. 
Ardoino is excited about the collaboration, aiming to revolutionize traditional payment systems with cutting-edge technologies. It aligns with Tether’s mission to promote cryptocurrency adoption in emerging markets 
The investment from Tether will support CityPay.io’s Eastern European expansion. With a primary focus on Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan,&nbsp; this expansion aims to reach dynamic emerging regions where the use of cryptocurrencies and payment technology is rapidly increasing.&nbsp; 
Customers and businesses may pay with Bitcoin at Wendy’s and Radisson Hotels thanks to CityPay.io, which provides a smooth payment experience. 
CityPay.io intends to introduce cutting-edge card and e-wallet solutions over the next two years, with the potential to attract more than 400,000 customers. Additionally, the business plans to open more than 500,000 cryptocurrency payment locations within the approved growth areas. 
In general, this announcement highlights Tether’s dedication to promoting a more integrated and diverse financial ecosystem, especially in areas that are adopting digital currencies and cutting-edge payment methods. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/03/tether-chainalysis-collaborate-for-secondary-market-monitoring/" target="_blank" rel="noreferrer noopener">Tether Teams Up With Chainalysis To Track USDT Transactions</a> 
</blockquote>

Tether Investment in CityPay.io for Eastern Europe Expansion

The Crypto Times

Other articles published on May 8, 2024

Japanese crypto exchange Coincheck sets Q3 as deadline for going public on Nasdaq

Factors Contributing to the Decline in Cryptocurrency Markets

PEPE Whales Move $21 Million Worth Of Coins – Here Are The Destinations

Pepe Price Prediction: PEPE Plunges 7% Despite 143 Billion Whale Buy As This 2.0 Meme Coin Aims T...

VeChain Adds GreenCart to VeBetterDAO to Reward Sustainable Shoppers with B3TR Tokens for Commitm...

NFL, NBA & NASCAR Stars Settle $2.4M Voyager Promo Suit

Join our free newsletter for daily crypto updates!