Tether Eyes Eastern European Expansion Via Investment in CitiPay.io

• This is not the first time Tether, the stablecoin issuer, has invested in CitiPay.
• The company is also aiming to set up about 500,000 crypto pay points in key locations.

Tether, the issuer of USDT, has declared intentions to expand its footprint across Eastern Europe. In order to do this, the cryptocurrency company plans to increase its investment in CitiPay.io, a platform that processes payments. It should be noted that this is not the first time Tether, the stablecoin issuer, has invested in CitiPay.

A partnership between the two companies dates all the way back to 2023. When this happened, Tether made history as the first stablecoin to put money into the payment solutions company located in Georgia.

Diversifying Investment Portfolio

Just a short time after announcing its plans to expand its offerings beyond stablecoins, the USDT issuer has decided to enter the Eastern European market. Tether has shown an interest in exploring data, financial, power, and educational infrastructure solutions, among others.

No one knows how much the investment is worth just yet. Tether, on the other hand, made it clear that it would be important in helping CitiPay.io grow in the targeted area. Services provided by CitiPay.io are currently available to users in many countries. Offering consumers easy payment options is one of its primary aims.

To put it in perspective, businesses like Wendy’s and Radisson Hotels accept CitiPay.io for payment. The business plans to provide card and e-wallet options as part of its service expansion over the next two years. More than 400 thousand people will probably sign up for this, says CitiPay.io.

The company is also aiming to set up about 500,000 crypto pay points in locations that are part of Tether’s growth as part of the agreement. Among these nations are Uzbekistan, Kazakhstan, Azerbaijan, Armenia, and Georgia.

Highlighted Crypto News Today:

18 G20 Nations Emerge as the Hubs for Crypto Degens