Tether Strengthens Footprint in Georgia with CityPay​.io Investment

May. 31, 2023
Tether Strengthens Footprint in Georgia with CityPay​.io Investment

Stablecoin issuer Tether recently revealed its plans to expand its operations in the Republic of Georgia by making a strategic investment in CityPay.io, a payment processing company that operates across 600+ locations throughout the country.

Tether Enhances Payment Industry in Georgia

CityPay.io is renowned for providing top-notch Wendy’s services to various esteemed customers, including major establishments like Wendy’s and Radisson Hotels.

Tether’s investment in CityPay.io aims to revolutionize Georgia’s payment industry by introducing improved efficiency and convenience for businesses and consumers alike.

Georgia’s forward-thinking regulatory framework has positioned it as an attractive destination for cryptocurrency companies seeking favorable business environments.

Furthermore, with a vision to become a prominent global cryptocurrency hub, the Georgian government has successfully attracted multiple firms to establish their operations within its borders.

In 2022, Georgia introduced comprehensive crypto regulations under the guidance of Levan Davitashvili, the Minister of Economy and Vice Prime Minister.

Moreover, the country’s proactive approach involved the development of a robust regulatory framework” specifically”tailored to digital businesses and cryptocurrency trading.

Binance Leads the Way in Georgia’s Blockchain Sector

Further bolster Georgia’s position as a burgeoning blockchain destination, Binance, a prominent cryptocurrency exchange, recently established a cutting-edge blockchain hub in the country.

However, this hub, referred to as a “Web3 outpost,” is a significant step towards driving widespread cryptocurrency adoption within Georgia.

Binance’s primary objectives for the blockchain hub include attracting talented professionals to the country’s thriving blockchain sector, generating a wealth of new employment opportunities, and providing comprehensive industry education to foster growth and innovation.

Therefore, with Tether’s strategic investment in CityPay.io and Georgia’s progressive regulatory framework, the country is well on its way to solidifying its status as a thriving hotspot for cryptocurrency companies.

The enhanced payment industry and the continuous influx of blockchain initiatives bode well for Georgia’s future as a prominent player in the global cryptocurrency landscape.

Ammar Raza

Associate editor
Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.