Tether, the stablecoin issuer, is making a significant investment in CitiPay.io, a payment processing platform, as part of its expansion plans in Eastern Europe. This partnership between the two companies began in 2023 when Tether became the first stablecoin to invest in CitiPay.io, located in Georgia. The exact value of the investment remains unknown.
In addition to its investment in CitiPay.io, Tether is looking to diversify its investment portfolio in Eastern Europe. The company is interested in exploring various sectors such as data, finance, power, and education infrastructure solutions.
CitiPay.io currently offers its services to users in multiple countries, aiming to provide convenient payment options to consumers. Businesses like Wendy’s and Radisson Hotels already accept CitiPay.io for payments. Over the next two years, CitiPay.io plans to expand its services by offering card and e-wallet options, with an estimated 400,000 people expected to sign up.
As part of the agreement, the company also plans to establish around 500,000 crypto pay points in locations aligned with Tether’s growth strategy. These locations include Uzbekistan, Kazakhstan, Azerbaijan, Armenia, and Georgia.
