Gate, a cryptocurrency exchange, recently revealed that it has incorporated Gate Pay payment services into the development of CityPay, a crypto payment startup in Georgia.
This integration will merge payment platforms and allow over 600 merchants in Georgia to access quick and efficient cryptocurrency payment methods for goods and services.
The project participants have promised that this unification will allow merchants to accept cryptocurrency payments for everyday expenses such as hotel bookings, supermarket purchases, and restaurant bills.
One of CityPay.io’s partners, the American restaurant chain Wendy’s in Georgia, will now enable customers to pay for their meals with cryptocurrencies.
Feng Zhou, the Director of Gate Pay, stated that the launch of Gate Pay in Georgia will help to connect cryptocurrency-friendly applications with merchant and restaurant customers, bridging the gap between Web3 technology and people’s daily lives.
According to experts in the digital industry, Georgia is becoming one of the most crypto-friendly countries globally.
The government has expressed its ambition to transform the country into a significant global crypto hub, and this has attracted crypto companies to set up local branches.
Cryptocurrency exchange Binance has also announced the opening of its hub in Georgia, with the primary objective of attracting blockchain technology talent.
Recently, an extended review was published on the Bits.Media portal that highlighted the regulatory features of the crypto industry in the CIS countries, entitled “Cryptocurrency Caucasus and Europe: Regulatory Features in the CIS”.
The Georgian government’s pro-crypto stance and regulatory loyalty to the crypto industry are attracting more and more companies to set up shop in the country.
As a result, Georgia is quickly establishing itself as a significant player in the global crypto economy.