Tether has declared it will invest in a payment service in Georgia as part of its Eastern European expansion.
The issuer of USDT plans to contribute more money to CityPay.io, a payment service based in Georgia. As stated in the official press release, the platform offers services in over 600 sites across Georgia. Customers can use cryptocurrencies to pay for goods and services by using CityPay.io.
Tether states that the service intends to launch new goods throughout the following two years. Georgia and its surrounding nations are the company’s main priorities. Paolo Ardoino, Tether’s CEO:
“Our previous collaboration with CityPay.io yielded exciting results in expanding convenient cryptocurrency use across Georgia. With this second investment, we aim to build on those results and drive the adoption of cutting-edge technologies that disrupt traditional payment systems.”
In May 2023, the corporation made a prior investment in CityPay. Tether and the local government subsequently signed a Memorandum of Understanding.
The corporation further bolstered the nation’s education system by taking part in the Academy of Digital Industries project’s series A round. The amount invested was kept secret in both cases.
Tether said earlier this month that it would work with top blockchain analytics firm Chainalysis to launch a USDT transaction tracking system on the secondary market. Any USDT-based transaction made after the tokens are released is considered a secondary market.
