- Tether plans to expand in Eastern Europe, investing in CitiPay.io.
- Tether’s investment aims to grow CitiPay.io in data, finance, energy, education.
- CitiPay.io to introduce card, e-wallet services, targeting 400,000 new users.
Tether, the company behind the USDT stablecoin, has announced plans to broaden its presence in Eastern Europe. To achieve this, the firm intends to bolster its investment in CitiPay.io, a payment processing platform. It is worth mentioning that this is not Tether’s inaugural investment in CitiPay.
The collaboration between Tether and CitiPay first took shape in 2023. At that time, Tether became the pioneering stablecoin issuer to invest in the Georgian-based payment solutions provider.
Expanding Investment Horizons
Shortly after revealing its intention to diversify beyond its stablecoin offerings, Tether has set its sights on the Eastern European market. The company is keen on delving into various sectors, including data, finance, energy, and education infrastructure.
The exact value of the investment remains undisclosed. However, Tether has emphasized that its investment will significantly facilitate CitiPay.io’s growth within the target region. CitiPay.io’s services are already accessible in multiple countries, and it focuses on providing convenient payment methods to its users.
For context, establishments such as Wendy’s and Radisson Hotels already accept payments via CitiPay.io. According to CitiPay.io, the company is looking to introduce card and e-wallet services as part of its expansion strategy over the forthcoming two years, with an anticipated enrollment of over 400,000 users.
Additionally, the partnership aims to establish approximately 500,000 cryptocurrency payment points in regions that are part of Tether’s expansion strategy. These regions include Uzbekistan, Kazakhstan, Azerbaijan, Armenia, and Georgia.
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