Octobank and CityPay.io Collaborate to Drive High-Tech and Crypto Adoption in Uzbekistan

29 May 2024

Octobank, a leading financial institution based in Uzbekistan, and CityPay.io, a prominent fintech company headquartered in Georgia, have solidified their commitment to advancing high-tech and crypto adoption in Uzbekistan through a strategic partnership. The partnership was formalized with the signing of a Memorandum of Understanding (MoU) on May 11th, 2024, in Tbilisi, Georgia.

The MoU outlines a comprehensive framework for collaboration between Octobank and CityPay.io, focusing on the promotion and integration of high-tech solutions and cryptocurrency payment systems in Uzbekistan. Key agreements within the memorandum include the promotion of cryptocurrency usage in everyday payments, integration into bank payment channels, collaboration with card issuance, and citynet development.

Speaking about the collaboration, Mr. Tursunov Iskandar Baxtinurovich, Chairman of the Board at Octobank, expressed his enthusiasm, stating, "Our partnership with CityPay.io marks a significant milestone in our journey towards advancing financial innovation in Uzbekistan. By leveraging CityPay.io's expertise in high-tech solutions and cryptocurrency payment systems, we aim to empower individuals and businesses with access to cutting-edge financial services."

Mr. Eralp Hatipoglu, CEO of CityPay.io, echoed these sentiments, emphasizing the transformative potential of the collaboration. "We are excited to partner with Octobank to drive crypto adoption and high-tech solutions in Uzbekistan," he remarked. "Through our combined efforts, we are poised to revolutionize the financial landscape, providing individuals and businesses with innovative solutions that enhance convenience, security, and accessibility in transactions."

The signing of the MoU between Octobank and CityPay.io heralds a new era of collaboration and innovation in Uzbekistan's financial sector. By harnessing the power of high-tech solutions and cryptocurrency payment systems, the partnership aims to accelerate the country's transition towards a more digitally inclusive economy.

About Octobank

Octobank is a leading financial institution based in Uzbekistan, committed to driving financial inclusion and fostering digital transformation. With a focus on innovation and customer-centricity, Octobank offers a comprehensive range of banking services tailored to meet the evolving needs of individuals and businesses.

About CityPay.io

CityPay.io is a prominent fintech company headquartered in Georgia, specializing in high-tech solutions and cryptocurrency payment systems. Dedicated to driving financial innovation, CityPay.io leverages cutting-edge technologies to deliver secure, efficient, and user-friendly financial services to individuals and businesses worldwide.