Tether: essential in the crypto ecosystem? – While we learned a few days ago that the company issuing theUSDT was launching into Bitcoin mining in Uruguay, Tether announces today that it has invested money in a Georgian payment platform named CityPay. On the borders of web 3 and traditional finance, the company registered in the British Virgin Islands will thus propel its stablecoin into many businesses in the country. Improve the payment systems thanks to its in-house blockchain to accelerate theadoption crypto in Georgia : it is the bet of Tether on the shore of the Black Sea.
Tether expands its crypto business by investing in a platform in Georgia
It is through a press release that Tether has therefore announced its acquisition of a stake in the company CityPay which is present in more than 600 businesses in the country, including luxury hotel and fast food chains. This investment East “ strategic » for representatives of the company who are happy to put their stablecoin at the service of crypto adoption in the Caucasus.
Paolo ArdoinoChief Technology Officer at Tether, gives some keys to understanding company strategy :
“We are excited to work with CityPay.io to bring more innovation and efficiency to the payments industry in Georgia. Tether is committed to supporting businesses that share our vision of building a more connected and accessible financial system. This investment in CityPay.io is an important step towards achieving this goal. »
On the Tether side, it seems that other announcements about the Georgia will arrive in a near futureas the country is showing signs of interest in the sector.
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Georgia: Eldorado for crypto investors in a highly strategic region
Indeed, since last summer, the authorities of Tbilisi made it clear Urbi and orbi that their country would welcome crypto industry players with open arms. According to data from specialist company Triple ATnext to 3% of Georgians possess cryptos, making it one of the very first countries in the world. It should be added that the number of bitcoin distributors is also important. And if we add a taxation and an advantageous regulationswe understand better why Tether is investing in this country which has officially submitted its application to the European Union.
The CEO of CityPay.io, Eralp Hatipoğluis of course delighted for his company, but also for his country:
“We are thrilled to partner with Tether. His investment will allow us to accelerate our growth and provide our services to more customers throughout Georgia. We look forward to working closely with her to bring more innovation and efficiency to the payments industry. »
The big maneuvers continue in the torpor of a deceptively calm bear market. While most observers focus on the crypto prices completely amorphous, the main players in the sector are placing their pawns and preparing for the future. Barring a major industrial accident, Tether should be one of those giants of tomorrow Who are also investing heavily in Bitcoin.
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