Tether Eyes Eastern European Expansion Via Investment in CitiPay

Tether, the issuer of USDT, has announced plans to expand its presence in Eastern Europe. To achieve this, the cryptocurrency company intends to increase its investment in CitiPay.io, a platform that processes payments. This is not the first time Tether, the stablecoin issuer, has invested in CitiPay. A partnership between the two companies dates back to 2023, when Tether became the first stablecoin to invest in CitiPay, a payment solutions company based in Georgia.

Tether has expressed interest in exploring various infrastructure solutions, including data, financial, power, and educational solutions. The exact value of the investment is still unknown, but Tether emphasized its importance in helping CitiPay.io grow in the targeted region. CitiPay.io's services are currently available to users in numerous countries, with one of its primary objectives being to provide easy payment options. Businesses such as Wendy's and Radisson Hotels already accept CitiPay.io for payment.

As part of its service expansion over the next two years, CitiPay.io plans to offer card and e-wallet options. It is estimated that more than 400,000 people will likely sign up for this service. Additionally, CitiPay.io aims to establish approximately 500,000 crypto pay points in locations where Tether is growing, which include Uzbekistan, Kazakhstan, Azerbaijan, Armenia, and Georgia.