CDS Collaboration Tether expands reach in Georgia through investment in CityPay​.io
Collaboration

Tether expands reach in Georgia through investment in CityPay​.io

The objective of the partnership is to improve the efficiency of the payment industry in Georgia.

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Tether Expands Reach In Georgia Through Investment In Citypay​.io

Tether expands reach in Georgia. On May 31, Tether revealed its plans to expand its operations in the Republic of Georgia by making a strategic investment in CityPay.io, a payment processing company with a wide network of over 600 locations in the country.

Tether expands reach in Georgia through investment in CityPay​.io

On May 31, Tether revealed its plans to broaden its influence in the Republic of Georgia by making a strategic investment in CityPay.io, a payment processing company that operates across over 600 locations in the country.

Tether Expands Reach In Georgia Through Investment In Citypay​.io

CityPay.io offers payment services to a diverse clientele, including prominent establishments like Wendy’s and Radisson Hotels, among many others. Tether’s strategic investment in CityPay.io is aimed at advancing the payment industry in Georgia, focusing on enhancing efficiency and convenience.

Due to its progressive regulatory framework, Georgia has emerged as a highly favorable location for cryptocurrency companies, attracting numerous firms to establish their operations there. The government of Georgia is leveraging its competitive advantages to establish itself as a prominent global hub for cryptocurrencies.

In 2022, Georgia implemented fresh regulations pertaining to cryptocurrencies. During that time, Levan Davitashvili, the Minister of Economy and Vice Prime Minister of Georgia, disclosed the introduction of a regulatory framework designed specifically for digital businesses and cryptocurrency trading.

Tether Expands Reach In Georgia Through Investment In Citypay​.io

In March, Binance, a cryptocurrency exchange, established a new blockchain hub in Georgia. Termed as a “Web3 outpost,” this hub has the objective of encouraging the widespread acceptance and use of cryptocurrencies in the country. Binance intends to attract skilled individuals to Georgia’s blockchain sector, create additional job prospects, and offer industry education.

Tether Expands Reach In Georgia Through Investment In Citypay​.io

To access more collaboration news: cryptodataspace.com

Written by
Aziz KARTAL

Aziz Kartal is 21 years old. He is a student at the Gazi University, Department of Electrical and Electronical Engineering. He works as content writer, researcher and social media manager. He generally research about Web3, Blockchain Security and Cybersecurity.

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