Tether Expands Its Presence in Georgia with Investment in CityPay.io
Tether Operations Limited (Tether), the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin announced today its increased presence in Georgia with an investment in CityPay.io, a leading payment processing company active in over 600 locations across the country including shops, hotels, restaurants and more.
Georgia is currently seeing rapid growth and interest in cryptocurrency, including increased demand for crypto payment options. As one of the most crypto-friendly countries in the world, 2.89% of Georgians own some form of cryptocurrency. Crypto ATMs are easily accessible to users in most cities, with a total of 130 ATMs situated across the country. In July 2022, a study by Forex Suggest ranked Georgia fourth, on a list of the most crypto-ready nations in the world.
CityPay.io offers a seamless payment experience to customers of Wendy’s and Radisson Hotels, among hundreds of others. By investing in CityPay.io, Tether aims to bring greater efficiency and convenience to the payment industry in Georgia.
Tether is the first stablecoin to invest in CityPay.io, marking an important milestone for the payment processing industry. This investment will enable CityPay.io to expand its operations and improve its services, ultimately benefiting customers across Georgia and CIS.
"We are excited to be working with CityPay.io to bring greater innovation and efficiency to the payment industry in Georgia," said Paolo Ardoino, Chief Technology Officer at Tether. "Tether is committed to supporting companies that share our vision of building a more connected and accessible financial system. This investment in CityPay.io is an important step towards achieving that goal."
"We are thrilled to be joining forces with Tether," said Eralp Hatipoglu, CEO of CityPay.io. "Their investment will enable us to accelerate our growth and bring our services to more customers across Georgia. We look forward to working closely with Tether to bring greater innovation and efficiency to the payment industry."
Tether's investment in CityPay.io is the first step in the company's expanded presence in Georgia. Tether is committed to bringing greater innovation and efficiency to the payment industry in the state and looks forward to announcing further initiatives in the near future.
About Tether (USD₮)
Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible, secure, and efficient financial, communication, and energy infrastructure. Tether enables greater financial inclusion, communication resilience, fosters economic growth, and empowers individuals and businesses alike.
As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.
About CityPay.io
CityPay.io is a leading crypto payment processing company in the region, created with the idea to make cryptocurrency more useful in everyday lives of people. Company offers a seamless payment experience to customers of Wendy’s and Radisson Hotels, among hundreds of others. With over 600 locations across Georgia and CIS, CityPay.io is committed to bringing greater innovation and efficiency to the payment industry in the state. Company helps businesses to receive cryptocurrency as a payment method using different channels of payment, such as API integration for online businesses, crypto POS terminals for physical locations, e-mail ordering, etc.
CityPay.io payment process is the easiest and fastest way to receive worldwide transactions in a few seconds, when the customer scans the payment QR code, auto-generated by the system, and receives the purchased product/service immediately with payment receipt.