Tether (USDT), the world's largest stablecoin company, announced that it has invested in CityPay.io, a payment processing company that operates at more than 600 locations across Georgia.
Georgia is a country with a high level of interest and adoption in cryptocurrencies, with 2.89% of its population holding some form of digital currency. By partnering with Tether, CityPay.io will expand its operations and improve its services to benefit customers in Georgia and the CIS.
Tether marks an important milestone for the payment processing industry as the first stablecoin to invest in CityPay.io.
Earlier this year, cryptocurrency exchange Binance announced that CityPay.io is connecting to Binance Pay, the payment arm of the world's largest crypto exchange, allowing exchanges with cryptocurrencies.
Tether Chief Technology Officer Paolo Ardoino said about the partnership:
“We are excited to work with CityPay.io to bring more innovation and efficiency to the payments industry in Georgia. Tether is committed to supporting companies that share our vision of creating a more connected and accessible financial system. This investment in CityPay.io is an important step towards achieving this goal.”
CityPay.io CEO Eralp Hatipoğlu stated the following on the subject:
“We are excited to join forces with Tether. 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 more innovation and efficiency to the payments industry.”
*Not investment advice.
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