Tether, the issuer of the USDT stablecoin, expands its presence in Georgia thanks to investments in CityPay.io, which has over 600 outlets throughout the country, including shops, hotels, restaurants and more.
With CityPay.io, customers of Wendy’s, Radisson Hotels and more have access to a seamless payment experience. Tether, by investing in a startup, directs its efforts to improve the efficiency and convenience of the payment industry in Georgia.
In general, Georgia is a friendly country for cryptocurrencies with increased demand for crypto payment options. 2.89% of Georgians own some form of cryptocurrency. There are also 130 easily accessible crypto ATMs in the country. And in July 2022, a study by Forex Suggest put Georgia in fourth place in the list of the most crypto-currency countries in the world.
Paolo Ardonio, CTO Tether, stated:
Tether is the first stablecoin to invest in CityPay.io, which is a major milestone for the payment processing industry. These investments will allow the company to expand its activities and improve the quality of service delivery, which will ultimately benefit users throughout Georgia and the CIS.
Source: Cryptocurrency
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