The new investment aims to strengthen CityPay.io’s expansion into Eastern Europe, specifically into Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan.
Stablecoin giant Tether is increasing its bets on cryptocurrency adoption in Eastern Europe with an additional investment in the Georgia-based crypto payment provider CityPay.io.on May 8 the injection of additional investment into CityPay.io, a payment platform allowing users to pay for services at places like Wendy’s and Radisson Hotels with cryptocurrencies like Bitcoin (
The investment is designed to further strengthen CityPay.io’s expansion into Eastern Europe, focused primarily on countries like Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan. As of May 2024, CityPay.io has more than 600 locations in Georgia and plans to launch its own e-wallet and card solutions in the next two years. The firm also has big ambitions to establish more than 500,000 crypto payment points throughout the designated expansion regions.“With this second investment, we aim to build on those results and drive the adoption of cutting-edge technologies that disrupt traditional payment systems.”the integration of Tether for payments on top of Polygon.