Tether, which has made a name for itself in recent days with its regular Bitcoin purchase, Bitcoin mining and renewable energy production steps, now has a Caucasus move. The company invested in CityPay.io in Georgia, where the use of cryptocurrencies is increasing, and significantly increased the #Bitcoin and #USDT payment area.
Tether, which recently announced that it will buy Bitcoin with 15 percent of the profits from its activities, and yesterday announced Bitcoin mining in Uruguay with renewable energy, has made a very important investment in Georgia.
The USDT issuer has invested in a local payment firm called CityPay.io. Thanks to this investment, USDT and Bitcoin payments will be available in places and businesses that make payments with the CityPay.io system from now on. CityPay.io company stands out as a valid application in more than 600 restaurants, shops and hotels.
Cryptocurrency adoption is on the rise
#Georgia , where its people are struggling with economic difficulties, once made a name for itself with Bitcoin mining due to cheap electricity opportunities. There are approximately 130 crypto ATMs in the country, where it is stated that nearly 3% of the population invests in crypto money.
Paolo Ardoino, the famous CTO of Tether company, said in a statement about the investment, “As a company, we are working to facilitate and connect the payment ways. Georgia is an important step towards this goal," he said.
Eralp Hatipoglu, the Turkish CEO of CityPay.io, said, “We are happy to join forces with Tether. Their investment will make it easier for us to achieve our growth targets. Our services will reach more people in Georgia.”
