Tether (USDT), the first stablecoin in the world, and CityPay.io, a cryptocurrency payment gateway, have partnered. As a result, the business grows to over 600 outlets throughout the nation of Georgia. The presence is noticeable in a variety of public places, including hotels and retail stores.
The statistics show that 2.89% of Georgians are active in cryptocurrency ownership. This demonstrates the nation’s pro-crypto atmosphere. Georgia is now quite open to the idea of accepting cryptocurrency payments.
CityPay.io assists Wendy’s and Radisson Hotels in providing an efficient consumer payment experience. Through the investment made in CityPay.io, Tether maintains the aim of offering satisfying ease to payment solutions.
In addition, CityPay.io will continue to broaden its services and capabilities while providing customers with advantages throughout the CIS and Georgian nations. The relationship with CityPay.io produces enthusiasm and anticipation for future advancements, according to Paolo Ardoino, the CTO of Tether, who is the company’s official representative.
“Tether is dedicated to assisting businesses that share our goal of establishing a more interconnected and open financial system. This financial commitment to CityPay.io is an essential step in that direction,” he added.
Eralp Hatipoglu, the CEO of CityPay.io, expressed his excitement at seeing Tether’s involvement.
He stated, “Their financing will allow us to expand more quickly and offer our services to more people in Georgia.”
To increase innovation and efficiency in the payment sector, we look forward to working closely with Tether.
In the end, the collaboration has compelled intriguing potential developments throughout the coming days. And Tether’s expansion into Georgia is the catalyst for the creation of a sizable community that accepts cryptocurrency payments.
Due to its progressive regulatory environment, Georgia has emerged as one of the most appealing locations for cryptocurrency businesses, drawing various enterprises to start operations there. The Georgian government wants to establish itself as a significant international cryptocurrency center by utilizing its competitive advantages.
In 2022, Georgia enacted new cryptocurrency laws. At that time, Levan Davitashvili, vice prime minister and minister of economy for Georgia, proposed the creation of a regulatory framework aimed at cryptocurrency trading and digital enterprises.