Public financial reports from Tether

Tether Expands in Eastern Europe, Integrates with TON, Targets 500,000+ Crypto Points

May 9, 2024, 12:39 PM

Tether, the leading stablecoin issuer, has announced significant investments in the Georgian payment service CityPay, as part of its expansion into Eastern Europe. This move is set to enhance Tether's presence in the region and is aligned with its strategy to deepen its investment in payment infrastructure providers, particularly in emerging markets. CityPay is planning to launch an e-wallet and a card, aiming to establish over 500,000+ crypto payment points. Tether's CEO Paolo Ardoino expressed enthusiasm about the collaboration with CityPay, citing previous successful outcomes. Additionally, Tether is integrating with the TON (Telegram) network, which could further boost its market position. These developments come as Tether continues to hold a dominant position in the stablecoin market, with significant transaction volumes that rival those of major traditional payment systems like Mastercard.