According to BlockBeats, on May 8, Tether Operations Limited announced that it would strengthen its presence in Eastern Europe through an additional investment in payment solutions company CityPay.io. CityPay.io aims to provide customers and businesses with a seamless payment experience, enabling them to pay with cryptocurrencies in places such as Wendy's and Radisson Hotels.

In the next two years, CityPay.io plans to launch a groundbreaking e-wallet and bank card solution, which is expected to attract more than 400,000 users. The company also intends to establish more than 500,000 crypto payment points in designated expansion areas. Tether's investment will greatly promote CityPay.io's expansion into Eastern Europe.

The expansion is focused on countries such as Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan, targeting dynamic emerging markets where the use of payment technologies and cryptocurrencies has grown significantly.