Tether Operations Limited, a major entity in the digital asset space, has partnered with mobile payment app Oobit and the TON Foundation to change the way cryptocurrencies are used for payments. The partnership aims to provide users with a smooth and convenient transaction experience.
Collaborative effort aims to reform cryptocurrency trading and expand global accessibility
Tether recently launched USD₮ and XAU₮ on TON, facilitating easy transfers within the TON ecosystem. This move improves the speed, security, and cost-effectiveness of cryptocurrency transactions. More than $200 million worth of USD₮ has been issued on TON's blockchain, allowing users to send USD₮ through direct messages on Telegram and make instant cryptocurrency Tap payments on Oobit. This highlights Tether's leadership in the digital asset space and its commitment to shaping the future of finance.
Paolo Ardoino, CEO of Tether, expressed enthusiasm for the collaboration and stressed the goal of promoting the adoption of cryptocurrency payments. He emphasized Tether’s commitment to digital financial innovation and accessibility, aiming to provide banking solutions to the unbanked and transform cryptocurrency transactions to make them more convenient and accessible.
Oobit’s role in the partnership includes providing a seamless cryptocurrency Tap & Pay experience, ensuring that merchants receive fiat currency even when paid in USD₮. The integration aims to expand the use of cryptocurrency as a practical and widely accepted payment method. Oobit’s CEO Amram Adar reiterated the company’s mission to enable individuals to make the most of digital assets, and emphasized that the partnership enables the unbanked to access well-known cryptocurrencies and global payments.
The TON Foundation, which aims to create a decentralized alternative to the traditional Internet through blockchain technology, played a key role in this collaboration. The integration of TON and Telegram makes it possible to use USD₮ and XAU₮ on TON, providing Telegram users with a borderless peer-to-peer (P2P) payment experience. This integration improves access to decentralized services and improves the overall user experience.
Victor Mendes, the wallet’s head of business development, commented on the collaboration, celebrating its impact on the TON ecosystem. He stressed that the integration of Toncoin into Oobit’s Tap & Pay feature provides a simple Web3 on-and-off experience for millions of users, in line with the vision of widespread cryptocurrency adoption.
Overall, Tether's collaboration with the TON Foundation and Oobit aims to expand USD₮ accessibility globally, facilitate smooth value transfers within the TON ecosystem, and provide a seamless crypto Tap & Pay experience on Oobit. This collaboration continues Tether's efforts to transform the cryptocurrency space and challenge the traditional financial system.
When money, payments, and communications ecosystems unite, they become unstoppable.
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