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The potential for utilizing Tether’s stablecoin as a payment method for everyday purchases and services has notably increased.
Tether has revealed a collaboration with Oobit and the TON Foundation to enhance the use of stablecoins as payment methods.
Oobit is a financial technology platform that merges the cryptocurrency market with the conventional financial system. Users of the Oobit application can make payments with cryptocurrency wherever Visa and Mastercard are accepted, utilizing contactless payment methods (Tap & Pay) that rely on Near Field Communication (NFC). Tether is one of the investors in this project.
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With this new partnership, users can purchase goods and services via the Oobit app using USDT and Tether Gold (XAUt) stablecoins on the blockchain known as The Open Network (TON). A dual conversion takes place at the moment of payment, allowing the seller or service provider to receive fiat currency. By mid-May, over $200 million worth of USDT had already been issued on TON.
The creators anticipate that this integration will greatly enhance the use of cryptocurrency as a payment option, ensuring practicality and ease for users. Paolo Ardoino, CEO of Tether, emphasizes that this collaboration will offer banking solutions to demographics lacking access to traditional banking services.
Additionally, payments can be made using Tap & Pay with TON tokens. Victor Mendes, Head of Business Development at Wallet, a crypto wallet integrated with Telegram, announced this in a press release. He also highlighted that the overarching aim of this partnership is to promote the widespread adoption of cryptocurrency.
The enhancement of Telegram’s cryptocurrency capabilities involving the TON Foundation was disclosed in late April. A key element of this initiative was the introduction of USDT and XAUt stablecoins on The Open Network, which are pegged to the U.S. dollar and gold, respectively.
Сообщение Tether Provides End-to-End Solution for Crypto Payments появились сначала на CoinsPaid Media.
