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 additional investment in the Georgia-based crypto payment provider CityPay.io.
Tether officially announced 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 (BTC).
The investment is designed to further strengthen CityPay.io’s expansion into Eastern Europe, focusing primarily on Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan.