As an analyst with extensive experience in the digital asset industry, I see Tether’s latest investment in CityPay.io as a significant strategic move that underscores the growing importance of stablecoins and cryptocurrencies as financial backbones in developing countries. This expansion into Eastern Europe aligns with Tether’s mission to promote the adoption of cryptocurrencies in emerging markets.
As a crypto investor, I’m excited to share that Tether Operations Limited, a significant figure in the digital asset sector, has announced its intentions to broaden its influence in Eastern Europe by investing more in CityPay.io.
Tether Boosts Payment Solutions in Eastern Europe with Additional Investment in ( @citypayio )
— Tether (@Tether_to) May 8, 2024
CityPay.io, a prominent payments processor with over 600 locations across Georgia, recently announced the completion of a fundraising round. Notably, this investment round followed Tether’s 2023 investment – a groundbreaking move as it marked the first stablecoin to back a Georgian payment solutions provider.
In a recent post on X, Paolo Ardoino, CEO of Tether, highlighted that the strategic move underway underscores Bitcoin and Tether (USDt) as significant financial foundations in numerous developing countries.
As a researcher examining the latest developments in the world of finance and technology, I’m thrilled about Ardoino’s enthusiasm for this collaboration. Our goal is to disrupt traditional payment systems using advanced technologies, and this initiative aligns perfectly with Tether’s mission to encourage cryptocurrency adoption, particularly in emerging markets.
As a crypto investor, I’m excited to be part of the investment from Tether that will fuel CityPay.io’s growth in Eastern Europe. Our primary target is to expand into vibrant emerging markets, specifically Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. In these regions, the adoption of cryptocurrencies and advanced payment technology is skyrocketing, making it an ideal time for CityPay.io to make its mark.
At Wendy’s and Radisson Hotels, customers and businesses have the option to make transactions using Bitcoin through CityPay.io, ensuring a seamless payment process.
Over the next two years, CityPay.io aims to roll out advanced card and e-wallet offerings, which have the capability to draw in over 400,000 new customers. Furthermore, the company is set to establish over 500,000 cryptocurrency payment sites in the designated expansion zones.
This declaration underscores Tether’s commitment to fostering a more interconnected and inclusive financial world, particularly in sectors embracing digital currencies and advanced payment systems.
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2024-05-08 18:46